Northmarq, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of the Concord Station neighborhood center located at 8621 Concord Mills Boulevard in Concord, North Carolina. The 45,569-square-foot retail center was 100 percent leased at the time of sale. Billy Benedict of Northmarq represented the South Carolina-based private buyer. The seller was a developer based in Florida. The asset was acquired for approximately $15.2 million.
“Concord Station will be a great long-term investment with its central location at the heart of the super-regional hub along one of Charlotte’s major growth corridors. The property benefits from its adjacency to Concord Mills which includes Bass Pro Shops, Dick’s Sporting Goods and Best Buy and is the largest single-site tourist attraction in North Carolina,” said Benedict, Associate Broker in Northmarq’s Alpharetta, Georgia office. “The buyer already had six similar multi-tenant centers in the Charlotte metro area, and therefore Concord Station was a very logical fit for their expanding portfolio.”
Located 15 miles northeast of Charlotte and about two miles west of Charlotte Motor Speedway, the center features nine tenants including McAlister’s Deli, Guitar Center, The UPS Store and Big Blue Swim School.