One Oaks Investments Acquires $21M Super-Regional Retail Center in Hickory
JLL has closed the $20.7-million sale of Valley Crossing, a 191,431-square-foot super-regional retail center located in Hickory, NC. The center was 98.2% leased at sale.
Tom Kolarczyk and Brad Peterson of JLL represented the seller, a public REIT. One Oak Investments, LLC, a privately held corporation, was the buyer.
The 1988-constructed Valley Crossing features six anchor tenants, including Academy Sports + Outdoors, JOANN Fabrics and Craft, Dollar Tree and American Freight Furniture.
Situated at 2154 US Highway 70 SE, Valley Crossing is in the middle of the largest super-regional trade area in the Hickory MSA, which is anchored by the 863,000-square-foot Valley Hills Mall. The center’s location along US-70 provides visibility to approximately 20,400 vehicles per day.
“This is the destination shopping corridor for Catawba County,” said Kolarczyk. This center’s location advantage combined with a diversified tenant lineup, offering sporting goods, apparel, furniture, services and restaurants, made this a desirable investment sale offering.”
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.