Exciting Sale in Charlotte: Camfield Corners Shopping Center Changes Hands for $11.2 Million

Exciting Sale in Charlotte: Camfield Corners Shopping Center Changes Hands!

In a buzzworthy real estate transaction, Charlotte has just witnessed the sale of the Camfield Corners shopping center for a cool $11.2 million. This impressive retail complex, which spans a whopping 69,723 square feet, was acquired by Ziff Real Estate Partners through their investment entity, ZRP Camfield Corners LLC. The sale was officially completed today, as noted in records from Mecklenburg County.

From One Owner to Another

Just to give you a bit of background, Camfield Corners was previously owned by Camfield Corners Inc. They bought it for $11.8 million back in March 2015, making this recent sale a noteworthy event in the area’s property market. The shopping center sits snugly on a 9.7-acre lot located at 11535 Elm Lane, right between the bustling StoneCrest at Piper Glen shopping center and the vibrant Ballantyne area. This prime location is just the cherry on top of what is already a successful shopping destination!

A Diverse Tenant Line-Up

The Camfield Corners shopping center is anything but average. At the time of the sale, it was 100% leased, showcasing its popularity among businesses and shoppers alike. Anchored by a busy Planet Fitness, the center also features a range of other delights including Goodwill, Lotus Café, Hungry Howie’s Pizza, a ballroom dance studio, a cozy nail salon, and many more services geared towards making life easier and more enjoyable for the local community!

What Made This Sale So Attractive?

Wells Herndon from Simpson Commercial Real Estate Partners, who played a vital role in facilitating this transaction, mentioned that the firm received a wave of interests from around the country once the property hit the market last summer. The attractive location, along with favorable demographics and a diverse mix of tenants, made this shopping center particularly enticing.

“The attraction is there. The growth is there. The retail investment has really been ramped up across the board in Charlotte,” Herndon emphasized. It’s no wonder that many investors set their sights on such a promising opportunity, and we can certainly sense his excitement about getting this deal done!

Ziff Real Estate Partners on the Move

If you’re curious about Ziff Real Estate Partners, they aren’t new to the game. They already own and operate several shopping centers around the Charlotte area, including the Matthews Festival Shopping Center in Matthews, Carolina Crossing in Indian Land and Turnberry Crossing in Cornelius. They clearly know how to pick ‘em!

The Broader Picture

Simpson Commercial isn’t stopping with this successful deal. The firm has been busy wrapping up various projects, like the recently completed sale of four retail buildings and a stand-alone Zaxby’s at Riverbend Village, a mixed-use center they developed. They’re even marketing a ground lease for an Outback Steakhouse at Riverbend Village, asking for nearly $3.3 million for that investment, which has 14 years left on its lease. Talk about a hot property!

As the Charlotte area continues its rapid growth, it looks like real estate opportunities will just keep on coming. Stay tuned for more updates on the local market and what exciting changes might be in store for the Queen City!