Downtown Pineville Retail is a street retail investment on Main St. in Pineville, NC, a rapidly growing suburb of Charlotte, NC. Carolina Capital (CC) purchased the property in October of 2021.
CC’s investment objective was to acquire a well located, quality retail asset within a Charlotte sub-market that had an in place, diverse tenant mix. The strip was acquired at an attractive cap rate and well below replacement costs. Furthermore, the property is strategically located in a dense and thriving suburban downtown, and benefits from explosive population growth in the immediate area.
CC plans to hold the asset as part of their street retail and stabilized income portfolio.