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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.

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