SOLD
Deal IRR/Multiple*
/
3.42x
Pool
Acquisition Date
Disposition
Description
Undeveloped Pad
Entire Center
Leasable Space
15,929 sq. ft.
0.87-acre Undeveloped Pad
Tenants
Modern Family Dentistry, Yama Sushi, Aroma Indian Cuisine, The Rug Store, Solar Nails
Highlights
Purchased in December 2013 for $2.6M, Promenade Shoppes is a 15,929 sq. ft. strip center located at the intersection of Concord Mills Blvd & Thunder Rd. The property is highly accessible from the busy Concord Mills Blvd and neighbors Wal-Mart and the Concord Mills Mall. The property was 75% occupied at the time of purchase and 100% occupied as the time of sale. In February 2015, the property sold a 0.87-acre stand-alone pad for a net sale price of $680K.
