September 9, 2024 – We are pleased to announce our acquisition of Olde Lancaster Town Center, a 43,044 square foot, four-building Essential Service Retail shopping center in Charlotte, NC. The Property is located at a hard corner intersection in the affluent Ballantyne submarket. In our first year of ownership, we plan to revitalize the center with a fresh coat of paint, new awnings, LED lights in the parking lot, string lights, patio seating, updated landscaping, parking lot seal and stripe, new roofs on multiple buildings, and a pylon sign enhancement.
The Property is currently 100% occupied by several national, experienced operators such as My Salon Suites, Aqua Tots, Lee’s Hoagies, Chesterbrook Academy, and Eye Level Learning. This investment aligns with our strategy to target unanchored, high-quality Essential Service Retail centers in strong demographic submarkets. Olde Lancaster Town Center is CenterSquare’s 42nd Service Property acquisition nationally and 17th in the Southeast.
