Checkered Flag Drops on $15M Buy of Retail Center near Charlotte Motor Speedway
Stan Johnson Company has completed the $15.2-millon sale of the Concord Station retail center, which is located two miles west of the Charlotte Motor Speedway in Concord, NC. The 45,569-square-foot complex was 100% leased.
Billy Benedict of Stan Johnson Company represented the SC-based private buyer; the seller was a FL-based developer. The asset was acquired for approximately $15.2 million.
“Concord Station will be a great long-term investment with its central location at the heart of the super-regional hub along one of Charlotte’s major growth corridors,” said Benedict. “The property benefits from its adjacency to Concord Mills, which includes Bass Pro Shops, Dick’s Sporting Goods and Best Buy. The buyer already had six similar multi-tenant centers in the Charlotte metro area, and therefore Concord Station was a very logical fit for their expanding portfolio.”
Concord Center features nine tenants including McAlister’s Deli, Guitar Center, The UPS Store and Big Blue Swim School.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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