Specialty Shops SouthPark in Charlotte, NC Sells for $40.2 Million
EverWest completes property disposition after nine-year investment hold
DENVER, CO (MARCH 14, 2023) – Leading real estate investment advisor EverWest Real Estate Investors (“EverWest”) has completed the sale of Specialty Shops SouthPark, a 65,362-square-foot, Class A retail development located in one of Charlotte, North Carolina’s most affluent neighborhoods. The property was sold for $40.2 million. The buyer is Hill Partners, a Charlotte-based owner, developer, redeveloper and manager of prime U.S. retail assets.
Specialty Shops SouthPark is occupied by upscale boutiques and restaurants, and national credit tenants including Williams-Sonoma, Drybar, Talbots and Paco’s Tacos & Tequila.
“Specialty Shops SouthPark benefits from strong submarket rent growth and a stabilized, high-end tenancy anchored by popular restaurants with other unique-to-market, boutique shopping and retail uses,” said John Maurer, EverWest’s Senior Managing Director and Head of Portfolio Management. “This made the asset appealing when we acquired the property in 2014 and it has now completed its role and contribution to the Fund after nine years of ownership. We believe it will continue to perform well over time and is uniquely positioned in the SouthPark retail market.”
EverWest currently has $5.3 billion in assets under management, invested through separately managed accounts and commingled funds, and with capabilities including acquisitions, asset management, development and property management activity.
Specialty Shops SouthPark is located at 6401 Carnegie Blvd., within a premier retail corridor and situated across the street from SouthPark shopping mall, one of the region’s largest retail areas.
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About EverWest Real Estate Investors LLC
EverWest Real Estate Investors (“EverWest”) is a real estate investment advisor providing investment management services throughout the U.S. including acquisitions, asset management, development and property management for our investors. With $5.5 billion in assets under management, EverWest clients invest through separately managed accounts and commingled funds. The firm is headquartered in Denver with regional investment offices in New York City, Charlotte, Los Angeles and San Francisco metro areas. EverWest is an affiliate of Sagard, a leading global alternative asset management platform within the Power Corporation of Canada ecosystem. For more information, visit www.everwest.com.
Specialty Shops SouthPark is occupied by upscale boutiques and restaurants, and national credit tenants including Williams-Sonoma, Drybar, Talbots and Paco’s Tacos & Tequila.
“Specialty Shops SouthPark benefits from strong submarket rent growth and a stabilized, high-end tenancy anchored by popular restaurants with other unique-to-market, boutique shopping and retail uses,” said John Maurer, EverWest’s Senior Managing Director and Head of Portfolio Management. “This made the asset appealing when we acquired the property in 2014 and it has now completed its role and contribution to the Fund after nine years of ownership. We believe it will continue to perform well over time and is uniquely positioned in the SouthPark retail market.”
EverWest currently has $5.3 billion in assets under management, invested through separately managed accounts and commingled funds, and with capabilities including acquisitions, asset management, development and property management activity.
Specialty Shops SouthPark is located at 6401 Carnegie Blvd., within a premier retail corridor and situated across the street from SouthPark shopping mall, one of the region’s largest retail areas.
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About EverWest Real Estate Investors LLC
EverWest Real Estate Investors (“EverWest”) is a real estate investment advisor providing investment management services throughout the U.S. including acquisitions, asset management, development and property management for our investors. With $5.5 billion in assets under management, EverWest clients invest through separately managed accounts and commingled funds. The firm is headquartered in Denver with regional investment offices in New York City, Charlotte, Los Angeles and San Francisco metro areas. EverWest is an affiliate of Sagard, a leading global alternative asset management platform within the Power Corporation of Canada ecosystem. For more information, visit www.everwest.com.