SRS’ Southeast Investment Sales team exclusively marketed and brokered the sale of Pineville Towne Market Shopping Center in Charlotte, North Carolina. The center is located at 321 South Polk St., which is situated along South Polk Street just south of the intersection of South Polk Street and Main Street. Pineville Towne Market consists of 83,526 square feet on 8.73 acres of land and is anchored by Food Lion. The seller, an affiliate of LARC Asset Management and Realty, Inc., sold the property for $8.375 million on Dec. 15, 2016 to F and L Meadow Creek, LLC.
“Given its location in suburban Charlotte and grocery-anchor component, Pineville Towne Market is a solid asset with a long history of success,” said Pierce Mayson, senior vice president for SRS’ Southeast Investment Sales Team. “As is often the case, a 1031 buyer with timing motivations put in an early offer at a price which enabled us to move forward with due diligence quickly and expedite closing for all parties involved.”
Kyle Stonis, senior vice president and market leader, and Pierce Mayson, senior vice president, in the SRS Atlanta office represented the seller in the transaction. Adam Russ, associate, with Berkeley Capital Advisors represented the buyer in this transaction.
About SRSReal Estate Partners
SRS Real Estate Partners is the largest real estate company in North America exclusively dedicated to retail services. Headquartered in Dallas with more than 20 offices worldwide, SRS’ strong reach and international presence provide the company with unparalleled knowledge both globally and domestically. As a result, clients of SRS have a competitive edge through a full range of offerings including brokerage services, corporate services, development services, investment services and management services. Since its inception in 1986, SRS has built a strong foundation in the retail real estate world and grown into one of the industry’s most influential and respected leaders. Our success is measured in the achievement of our clients’ objectives, satisfaction and trust. For more information, please visit www.srsre.com.
