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Bedrin Organization Acquires Golden Gate Shopping Center In Greensboro For $20.2 Million

Property Image
SOLD
$20,200,000

North Carolina

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Retail151,000 SF
Sold 09/25/2025
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Property Image
SOLD

Bedrin Organization Acquires Golden Gate Shopping Center In Greensboro For $20.2 Million

2276 Golden Gate Drive

See Similar Deals
Retail151,000 SF
Sold 09/25/2025
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Summary

NORTH CAROLINA
Asset Type:Retail
Price Per Square Foot:$133
Total Square Footage:151,000 SF
Transaction Type:Sale

The property asset involved in the transaction is a retail space located at 2276 Golden Gate Drive in Greensboro, NC. The sale was completed for a price of $20,200,000, and the asset encompasses 151,000 square feet, with a price per square foot of $133.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $20,200,000
  • Buyer: Bedrin Organization
  • Seller: Richard Greer & Neal Shalom
  • Broker Representatives: Adam Russ, Erin Varol & Will Register - CBRE
  • Market: Greensboro, NC

The deal showcases the involvement of prominent representatives from CBRE, who facilitated the transaction. The buyer, Bedrin Organization, plans to enhance the economic potential of the center through strategic capital improvements and targeted leasing efforts, while the seller, Richard Greer & Neal Shalom, successfully completed the sale of this asset.

Players

Adam Russ
2 deals$32.7M volume
BROKER

Erin Varol
CBRE
1 deal$20.2M volume(704) 661-5407
BROKER

Will Register
CBRE
1 deal$20.2M volume(336) 264-5795
BROKER

CBRE
BROKERAGE

Details

SOLD
IMAGE: Richard Greer, Neal Shalom, Erin Varol, Adam Russ & Will Register DATE: 9/25/2025 ADDRESS: 2276 Golden Gate Drive MARKET: Greensboro, NC ASSET TYPE: Retail BUYER: Bedrin Organization SELLER: Richard Greer & Neal Shalom BROKERS: Adam Russ, Erin Varol (@JGreeng44) & Will Register (@WillRegister) - CBRE (@CBRE) SALE PRICE: $20,200,000 SF: 151,000 ~ PPSF: $133 NOTE: Waterstone purchased the Golden Gate Shopping Center of Greensboro, NC for $20.2 million. This is a well located and strong performing asset at well below replacement cost in the pathway of gentrification and strong demographic growth. Waterstone plans to leverage its deep and experienced leasing, asset management and development expertise to enhance the economics of the center through a value-add plan centered around capital improvements to the center and a focused leasing effort to enhance the credit of the shopping center.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,077,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$71,766.34
Cash-on-Cash Return-1.27%
Monthly Debt Service$95,758.31
Annual Debt Service$1,149,099.67