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Waterstone Acquires 660K-SF Matthews Retail Center
Waterstone Properties has paid $87 million for Windsor Square Shopping Center, a 659,222-square-foot power center in Matthews, N.C. Commercial Edge reports United Bank originated a $63.1 million acquisition loan.
Hackney Real Estate Partners sold the asset after nearly two years of ownership. The firm had acquired Windsor Square from Sterling Organization for $70.1 million in November 2024.
Completed in 1987, Windsor Square was most recently renovated in 2014. Anchored by national retailers including Kohl’s, At Home, Sam’s Club, Ross Dress for Less, PetSmart and DSW, among others, the asset was 99 percent leased at the time of sale. Atlantic Retail will handle leasing at the shopping center going forward.
The shopping center is close to Novant Health Matthews Medical Center along the U.S. 74 retail corridor, providing direct access to Interstate 485. Downtown Charlotte is 11 miles away, while its international airport is some 30 miles northwest.
- ◦Sale/Acquisition
