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Atlanta & Southeast   /   April 21, 2021

David Cohen
By: David Cohen

Broad Reach Retail Partners Acquires Grocery-Anchored Retail Center in North Carolina

Value-add owner and operator of shopping centers Broad Reach Retail Partners has acquired Henderson Pointe, a grocery-anchored retail property in Henderson, N.C. The sales price was not disclosed.

Henderson Pointe, a 188,647 square-foot neighborhood center, was 72% occupied at the time of sale. Anchor tenants include Food Lion, Harbor Freight, Badcock Furniture and Roses Discount Stores. The center is located in the Dabney Drive Retail Corridor, the main shopping location for the Henderson community. The purchase of Henderson Pointe is the first acquisition under Broad Reach Retail's Shopping Center Fund III, the company's latest investment vehicle that closed last month.

"With equity to deploy, Broad Reach remains an active buyer of grocery-anchored shopping centers," said Nate Tower, CEO at Broad Reach. "We know these types of centers are essential to their surrounding communities, and we know the value Broad Reach can bring by restoring them and filling retail voids to support the needs of their local residents."

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David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles.
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