Northcross Commons Trades For $31M
Charlotte-based Hawthorne Retail Partners has sold the Northcross Commons to InvenTrust, based in suburban Chicago, for $31M. Whole Foods anchors the 60k SF property, which also counts Viva Chicken, Sur La Table and Polished among its tenants. It's near the NorthCross regional open-air shopping center. InvenTrust already owns Poplin Place in Monroe and Sycamore Commons in Matthews in the metro Charlotte market.
The deal counts as a successful value-add on the part of Hawthorne, which acquired the center in 2012 for $3.9M and then undertook substantial renovations, reports the Charlotte Business Journal. Berkeley Capital Advisors repped Hawthorne in the sale of the property, which occupies more than 10 acres at I-77 and Sam Furr Road in Huntersville. [CBJ]
