Concord, N.C. — An affiliate of Yale Realty Services Corp., in partnership with an international family office, has acquired Afton Ridge, a 294,617-square-foot shopping center located in Concord, roughly 25 miles northeast of Charlotte. Robert Altman of Altman Warwick Inc. and Bat Barber of Medalist Capital arranged the $49.2 million acquisition on behalf of the buyer. Mike Burkard and Steve Shields of CBRE represented the undisclosed seller in the transaction. MetLife financed the acquisition with a $29.6 million mortgage.
A Super-Target anchors the property, which was 97 percent occupied at the time of sale. Other tenants at the center include HomeSense, Marshalls, Burlington Stores, Haverty’s Furniture, PetSmart and a Dick’s Sporting Goods clearance store operating under the Going Going Gone! name.