Mooresville, N.C. — Lowe’s Home Improvement posted a 30 percent increase in same-store sales during its second quarter, which ended July 31. The total sales reached $27.3 billion, compared with $21 billion in the second quarter of 2019. Lowe’s also invested $460 million during the quarter to support frontline hourly associates. In 2020, the company thus far has invested $560 million in COVID-19-related financial support for its associates and community pandemic relief, with a focus on minority and rural small businesses and healthcare workers. Mooresville-based Lowe’s is an essential retailer, …
Concord, N.C. — TSCG has negotiated the $7.1 million sale of The Shops at Christenbury, an 11,350-square-foot retail property in Concord. The asset was fully leased at the time of sale to tenants including Aspen Dental, First Watch, Atrium Health and Brownlee Jewelers. A Kohl’s store, McDonald’s outparcel and an Andy’s Frozen Custard outparcel sit on the property but were not part of the sale. The seller, Thompson Thrift Development, delivered the property in 2019. The Shops at Christenbury is located at 8825 Christenbury Parkway, 15 miles north of downtown …
Oak Island, N.C. — Halpern Enterprises has delivered Oak Island Market Place, a 35,800-square-foot, Publix-anchored property in Oak Island. Publix occupies 28,800 square feet. The remaining restaurant and retail space is available for lease. The property is situated at 5001 E. Oak Island Drive, 36 miles south of downtown Wilmington. This is the ninth shopping center Halpern has developed or redeveloped with a Publix anchor and the fourth in North Carolina.
Phoenix — Sprouts Farmers Market has expanded its grocery pick-up service to 46 stores in Alabama, Florida, Georgia, North Carolina, South Carolina and Tennessee as the grocer faces heightened demand amid the COVID-19 outbreak. The service allows customers to plan grocery pick-up for the same day or to schedule several days in advance. Their personal shopper will bring the groceries to a designated pickup parking spot when the customer arrives and checks in. A list of specific stores offering the service was not disclosed. The Phoenix-based grocer recently expanded this …
Matthews, N.C. — SRS investment Properties Group has arranged the $23.9 million sale of Matthews Corner Shopping Center, a 191,664-square-foot property in Matthews. The asset was fully leased at the time of sale to eight tenants, including Hobby Lobby, Marshalls, Academy Sports + Outdoors and Ollie’s Bargain Outlet. Matthews Corner is situated on 19 acres at 2332 Matthews Township Parkway, 12 miles southeast of downtown Charlotte. Kyle Stonis and Pierce Mayson of SRS represented the seller, Viking Partners, in the transaction. The buyer, Big V Property Group, was self-represented in …
Greensboro, N.C. — Tanger Outlets has converted several of its outlets centers and parking lots to assist in coronavirus (COVID-19) relief efforts. The Greensboro-based retailer has taken up food and supply drives to support families in the communities it serves. Additionally, the company has converted several of its parking lots to help police and EMS workers set up remote staging areas. Tanger is also still running blood drives with the American Red Cross at select locations. Click here for more information on Tanger services.
Grocery stores are the bellwether for retail health in the top markets of North Carolina and South Carolina. They are a reflection of job and population growth and are often a catalyst for future retail opportunities, anchoring both new shopping centers and mixed-use projects throughout the two-state region. The Carolinas are battle tested when it comes to the grocery segment, with several local and regional players headquartered in the area and actively leasing space. It came as a blow, then, when homegrown specialty grocer Earth Fare decided to close its …
Greensboro, N.C. — Branch Properties LLC has sold Westridge Square, a 182,000-square-foot, Sprouts Farmers Market-anchored retail center in Greensboro, for $38.4 million. Branch Properties has been renovating the property for four years. The renovation included moving Sprouts into a 30,524-square-foot space that Harris Teeter formerly occupied. The seller also reconfigured Kohl’s to a smaller footprint to make room for Planet Fitness. Westridge Square is situated at the intersection of Battleground Avenue and Westridge Road, five miles northwest of downtown Greensboro. Berkley Capital Advisors represented the seller in the transaction. Select-Westridge …
Charlotte, N.C. — Topgolf Entertainment Group will open its second Topgolf venue in Charlotte by the end of the year. The new location will be dubbed Topgolf North Charlotte and will be situated at the intersection of Interstate 85 and University City, near University of North Carolina-Charlotte, Charlotte Motor Speedway and Northlake Mall. Topgolf North Charlotte will sit on 14 acres and is expected to create 500 jobs. Topgolf opened its first Charlotte venue two years ago at 8024 Savoy Corporate Drive in the southwestern part of the city.
Asheville, N.C. — Earth Fare, a privately held grocery chain that sells natural and organic products, says it will shutter all of its stores and launch a liquidation inventory sale. The grocer lists 46 stores on its website, the bulk of which are in Florida and its home state of North Carolina. Earth Fare also has five stores in the Midwest and a few others in Alabama, Georgia, Tennessee, Virginia and South Carolina. Earth Fare is also shuttering its corporate office in Asheville. The Wall Street Journal reported that Earth Fare, …