Publix-anchored retail center near Charlotte sells for $28.2M

CHARLOTTE, March 28, 2022 – JLL Capital Markets announced today that it has closed the $28.2 million sale of and arranged $17.5 million in acquisition financing for The Shoppes at Hanfield Village, a 90,996-square-foot, Publix-anchored retail center in the suburban Charlotte community of Indian Trail, North Carolina.

JLL facilitated the transaction on behalf of the seller, KGI Properties and Arista LLC, and procured the buyer, Pantry Express. Additionally, working on behalf of the new owner, JLL placed a 10-year, fixed-rate, non-recourse acquisition loan with Grant Street Funding.

The Shoppes at Hanfield Village was constructed in 2017 and is anchored by Publix, considered one of the most sought-after grocers in the Southeast. The center is also home to a diverse lineup of national and local tenants, including SuperCuts, Geico, Jets Pizza, Party Nails, Poppyseed Bagels, Sun Valley Sushi, East Coast Wings, We’re Dancing, Sun Valley Noodles and Spotless Cleaners.

Situated on 18.8 acres at 5132 Old Charlotte Hwy., The Shoppes at Hanfield Village is in Indian Trail, a community approximately 16 miles southeast of downtown Charlotte. The center’s highly visible location at the corner of Westley Chapel and Old Charlotte Highway sees a combined 41,500 vehicles per day and is directly across the street from Sun Valley High School.

“We developed The Shoppes at Hanfield Village in 2017 to be a vital part of the community and are proud of the impact it has had on the people it serves,” said Richard Bornstein, President of KGI Properties. “We know it is in excellent hands with its new owner.”

The JLL Retail Capital Markets Investment Sales and Advisory team was led by Senior Director Thomas Kolarczyk, Director Ryan Eklund, Managing Director Bill Moylan, Director Daniel Naughton and Senior Director Jordan Lex.

“As a Union County native, I’ve seen firsthand how much Indian Trail has grown and evolved over the years and continues to do so,” Eklund said. “The Shoppes at Hanfield Village is an incredible asset and will continue to serve the close-knit community for years to come.”

The JLL Debt Advisory team representing the borrower in the financing included Directors Taylor Allison and John Gavigan.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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