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Affluent Retail Centers Selling Fast in Charlotte

CHARLOTTE, NC-CB Richard Ellis' Mike Burkard tells GlobeSt.com's Jennifer LeClaire pricing on these centers has reverted to pre-recession levels.

By Jennifer LeClaire | Updated on September 29, 2011

CHARLOTTE, NC-In back-to-back retail sales, Cotswold Village and Terraces at SouthPark have traded for $85 million. The sales reflect Charlotte’s recovering retail market. Casey Rosen and Mike Burkard of CB Richard Ellis’ National Retail Investment Group Florida and Charlotte Teams exclusively represented the sellers. The sellers were affiliates of Greensboro-based Bell Partners.

“The investment environment for grocery-anchored centers has been particularly strong,” Burkard tells GlobeSt.com. “Pricing on these centers has reverted to pre-recession levels due to high investor demand and extremely favorable debt alternatives.”

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