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NC Retail Sale Carries $55M-Plus Price Tag

CHARLOTTE, NC-The Grande Promenade registers occupancy in the high 90% range. Tenants at the asset include Ashley Furniture, Total Wine and Jos. A Banks.

By Melissa Kress | Updated on January 24, 2007

(For more retail coverage, click GlobeSt.com/RETAIL.)

CHARLOTTE, NC-The joint owners of Grande Promenade have completed the sale of the 202,555-sf property for $55.5 million. The buyer was a partnership led by ZR Strategic Property Investments, LLC and US Advisors, LLC.

The seller was Ghazi, NC, LLC and St. James Place. Lori Schneider, senior director of Marcus & Millichap’s National Retail Group, repped both sides. She tells GlobeSt.com that the seller put the retail asset on the market at this time because it was moving on to other projects. Grande Promenade was the North Carolina developer Ghazi Co.

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