SRS’ Investment Properties Group (IPG) exclusively marketed and brokered the sale of an outparcel to the Matthews Corners Shopping Center, which SRS IPG sold in April earlier this year. The three-tenant retail strip center is located at 2304 Matthews Township Parkway which is situated within the Charlotte, N.C. MSA, with one of the fastest expanding economies in the United States. The strip center was built in 2019, and consists of 9,978 square feet on 1.164 acres of land directly in front of Matthews Corners Shopping Center. It is 100% occupied by a mix of internet-proof tenants including Five Guys, Hand & Stone, and BetterMed Urgent Care. The high-traffic location along Matthews Township Parkway provides access to 57,000 vehicles per day and connects multiple submarkets to downtown Charlotte. The seller, Viking Partners, sold the property on August 21, 2020 for $5.15 million to Big V Property Group.
“It was great to get another asset sold in this uncertain climate, said Kyle Stonis, managing principal of SRS’ Investment Properties Group. “We continue to see increased appetite for stability and a flight to quality and national credit tenants.”
Kyle Stonis, managing principal, Pierce Mayson, managing principal, and Boris Shilkrot, associate, of the Investment Properties Group in the SRS Atlanta office, represented the seller in the transaction. The buyer was self-represented in this transaction.
About SRS Real 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 25 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 and investment 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.
