Search
 

North Carolina JV Gets Land for $80M Retail

RICHMOND, KY-Carolina Holdings and Crosland Inc. buy 120 acres to build the 800,000-sf Richmond Centre. Five anchors have dibs on retail space.

By Gina Kenny | Updated on June 08, 2007

RICHMOND, KY-A joint venture between Carolina Holdings Inc., based in Greenville, SC, and Crosland Inc. of Charlotte NC, has purchased 120 acres to develop the 800,000-sf Richmond Centre. To assemble the development site, the JV worked out deals with 20 sellers.

The developers, acting as Richmond Centre LLC, have acquired the northwest corner of Interstate 75 and Barns Mill Road. Construction on the $80-million regional center begins this month, Britt Goodson, project manager with Carolina Holdings Inc., tells GlobeSt.com. Jim Kemper, vice president for NAI Isaac Commercial Properties in Lexington, KY represented the JV for the land transactions.

Richmond Centre will break ground with 60% of its class A retail space already preleased, according to Goodson. Anchors Meijer grocery, JCPenney and Home Depot will be separately owned. The anchor lineup includes Belk and Cinemark Theatre.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.