Riverbend Village
Closed9515 Riverbend Village Dr, Charlotte, NC 28216
Property type
Retail
Unit / Space count
1
Price
$20,815,000
Building size
43,787 sf
Rentable area
43,787 SF
Year built
2019
Year renovated
Occupancy
Zoning code
Lot size
2.89 Acres
Sold/status
Sold · Date unknown
Sale price
$20815000
Property description
Franklin Street is pleased to present Riverbend Village's retail shops in Charlotte, NC. Charlotte, NC is known as the #2 banking capital of the US, but in recent years it has continued to diversity it's industries into technology, manufacturing, distribution, and healthcare. Riverbend is Charlotte's newest large scale mixuse development in Northwest Charlotte. When the project is fully completed it will include 105 townhomes, 266 apartments, 120 key Courtyard Marriott, 370,000 sf of Corning's national headquarters, 250,000 sf of medical office for Novant Health, and 185,000 sf of retail. The area is a rapidly growing portion of Charlotte with easy access to interstates and major highways leading to Uptown Charlotte and other employment corridors. In 2019, Harris Teeter relocated and expanded from across the street to their new 78,000 SF prototype with 16 pump fuel center. The expansion has paid off, as the location currently ranks #2 out of 260+ locations for stores foot traffic. The retail shops component is the ideal tenant mixture of national and regional operators for a grocery anchored development. National outparcel users also driving traffic to the property include Chick-fil-a, Freddy's, Taco Bell, Dunkin, among others to be announced. The development has 4 access points with two lighted entrances. The project is bordered on the west side by Brookshire Blvd (46,000 VPD), on the north side by Mount Holly-Huntersville Rd (17,000 VPD), and on the south is I-485 (83,000 VPD).
Property highlights
- New construction grocery anchored strip center in Charlotte, NC
- Shadow shops to #2 Harris Teeter in chain (Placer.AI), the dominant grocer in the Carolinas
- 21% scheduled NOI growth over 10 year period
- Ideal small shop alignment with 8 different end-caps in the center and patios for restaurant tenants
- Strong mixture of quick service restaurants and service tenants
- Charlotte is the 16th largest city in the country and 5th fastest growing
- High household income surrounding the area: $119k+ within 5 minutes of the property
- 7.5 Years weighted average lease term remaining
- Shared lighted entrance with Walmart Supercenter across the street