Piedmont Capital Adds Charlotte-Area Retail Center to NC Holdings

Piedmont Capital paid $24.5 million for The Shops at Franklin Square. Located in Gastonia, NC, this 134,214-square-foot Ashley Furniture-anchored center is the company’s second retail acquisition in Gaston County and their third closing in 2026. The retail center, which opened in 2007, is currently 98% occupied.

The Charlotte Business Journal reports Piedmont purchased the 10.15-acre parcel from Medalist Diversified REIT, which paid $20.5 million in 2017.

Tom Kolarczyk and Andrew Jomantas, with JLL, represented the seller.

Piedmont’s portfolio now has 11 properties in its retail portfolio, exceeding 700,000 square feet across North Carolina and Viginia. In Gaston County, it also owns Main Street Crossing, a 65,000-plus-square-foot grocery-anchored center, in Belmont. Other key holdings include Sadler Square, which will bring new restaurants and retail to Davidson, as part of a major revamp. 

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