June 29, 2017
Los Angeles-based Westwood Financial LLC acquired The Arbors at Mallard Creek, a 55,323-square-foot, Trader Joe’s-anchored neighborhood center in Charlotte, NC for $25.1 million. The 98%-leased center at 2121 E. Arbors Dr. includes a tenant mix of 19 national and regional specialty retailers.
Westwood Financial’s Joe Dykstra says, “Trader Joe’s is one of the strongest and fastest growing specialty grocers in the nation today, outperforming other fresh format and traditional grocery stores in sales per square foot.”
The property is located in the University City neighborhood of Charlotte, near the University Research Park, and about four miles away from the University of North Carolina, Charlotte.
CBRE’s Mike Burkard and Casey Rosen represented both the buyer and unnamed seller in the transaction.
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