Nov
08

Charlotte’s Northlake Commons Center Sold

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Ferncroft Capital of Charlotte, in a joint venture with Crow Holdings of Dallas, has bought Northlake Commons Shopping Center for $22 million in an all-cash deal, the companies announced Friday.

“Rarely have we seen such a quality investment opportunity that has this much upside,” said John Hollmeyer, a principal at Ferncroft.

The shopping center sits adjacent to Northlake Mall in north Charlotte. The center was built in 2006 by Charlotte-based Faison. Ferncroft’s strategy is to lease the remaining shop space at 10 percent to 20 percent below market rent, the company said in a release.

MORE ON THE CENTER HERE

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