SRS’ Investment Properties Group (IPG) exclusively marketed and brokered the sale of Matthews Corners Shopping Center, an established community center located in Matthews, N.C. The center is located at 2332 Matthews Township Parkway which is situated within the Charlotte, N.C. MSA, with one of the fastest expanding economies in the United States. Matthews Corners Shopping Center consists of 191,664 square feet which is positioned on 18.50 acres of land situated along U.S. Route 74. The eight-tenant center was built in 1996 and then renovated in 2018. It is 100% occupied with national credit anchor base comprised 95.6% of the gross leasable area. The reputable retailers include Hobby Lobby, Marshalls, Academy Sports + Outdoors, and Ollie’s Bargain Outlet. Matthews Corners Shopping Center maintains a strategic market position situated at U.S. Route 74 and Matthews Township Parkway with a combined traffic count of 84,000 vehicles per day. U.S. Route 74 is the primary traffic thoroughfare, connecting bedroom communities like Monroe, Indian Trail and Matthews, N.C. to downtown Charlotte. Matthews Township Parkway serves as the retail shopping nucleus for southeast Charlotte, highlighted by Matthews Corners Shopping Center, as well as major retailers including Costco, Lowe’s, Best Buy, Dick’s, Michaels, Old Navy, World Market, and more. The seller, Viking Partners, sold the property on April 22, 2020 for $23.85 million to Big V Property Group.
“In these uncertain times, strong, national credit retail in top markets remains the most resilient,” said Pierce Mayson, principal of SRS’ Investment Properties Group. “Matthews Corners is a prime example of the flight-to-quality we are seeing over the last several weeks; with best-in-category anchors and 96% national credit, located in an affluent trade area in Charlotte.”
Kyle Stonis and Pierce Mayson, both managing principal of the Investment Properties Group in the SRS Atlanta office, represented the seller in the transaction. The buyer was self-represented in this transaction.
About SRS Real Estate Partners
SRS Real Estate Partners is the largest real estate company in North America exclusively dedicated to retail services. Headquartered in Dallas with more than 25 offices worldwide, SRS’ strong reach and international presence provide the company with unparalleled knowledge both globally and domestically. As a result, clients of SRS have a competitive edge through a full range of offerings including brokerage services, corporate services, development services and investment services. Since its inception in 1986, SRS has built a strong foundation in the retail real estate world and grown into one of the industry’s most influential and respected leaders. Our success is measured in the achievement of our clients’ objectives, satisfaction and trust. For more information, please visit www.srsre.com.
