CHARLOTTE—Riverview Commons Shopping Center just traded for $9 million. The retail asset is 93% occupied with Food Lion and Dollar General as anchors.
Benbrooke Realty Investment purchased the 59,020-square-foot shopping center. It was the first acquisition in a joint venture equity relationship Benbrooke structured with an offshore investment group.
Michael Oestreich, principal of Benbrooke Realty, tells GlobeSt.com his team passed over three dozen shopping centers before deciding to acquire this retail asset. He cites three factors that attracted him to the deal: It was newly built in 2009; anchor sales are solid, and it’s located in a Charlotte suburb.
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