Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CHARLOTTE, NC-The Sterling Organization of West Palm Beach, FL, has taken the deed to East Town Market Shopping Center here for $14 million. Locally based BVB Properties sold the 183,374-sf asset.

The shopping center comprises 141,924 sf of retail and 41,450 sf of office, sitting on 16.5 acres. Compare Foods anchors the center, which is 84% leased, Steve Slattery, president of SMS Real Estate Investment Services Inc., tells GlobeSt.com.

Slattery, who arranged the sale, adds that the cap rate is difficult to compute because it will depend on next year’s expenses. The center is located at the intersections of WT Harris Blvd., N. Sharon Amity and Milton Rd. It was one of the city’s first mixed-use developments.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.