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Boone, N.C. — Miami-based Orion Real Estate Group has acquired Watauga Village, an 88,800-square-foot neighborhood center located in the northwestern North Carolina city of Boone. Food Lion anchors the property, which was fully leased at the time of sale. Additional tenants include Michaels, Mercy Urgent Care, Spectrum, Tropical Smoothie Café and Wingstop.
Orion currently owns or manages an additional 23 properties totaling 101,583 square feet throughout North Carolina, which are all single-tenant, triple-net properties. Watauga Village is the firm’s first shopping center acquisition in the state.
Adam Russ, Erin Varol and Will Register of CBRE represented the seller in the transaction.