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Richard Greer And Neal Shalom Acquire Retail Property From Crown Companies For $32.75M In Winston-Salem

Property Image
SOLD
$32,750,000
Rob Carter
Morgan Hall

North Carolina

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Retail130,000 SF
Sold 09/24/2025
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Property Image
SOLD

Richard Greer And Neal Shalom Acquire Retail Property From Crown Companies For $32.75M In Winston-Salem

240 Harvey Street

See Similar Deals
Retail130,000 SF
Sold 09/24/2025
Rob Carter
Morgan Hall
the dealplayerscompscontact
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Summary

NORTH CAROLINA
Asset Type:Retail
Price Per Square Foot:$251
Total Square Footage:130,000 SF
Transaction Type:Sale

The retail asset involved in the transaction is located at 240 Harvey Street, Winston-Salem, NC. The sale price of the property was $32,750,000, and it encompasses 130,000 square feet, resulting in a price per square foot of $251.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $32,750,000
  • Address: 240 Harvey Street
  • Market: Winston-Salem, NC
  • Asset Size: 130,000 SF
  • Price Per Square Foot: $251
  • Buyer: Richard Greer & Neal Shalom
  • Seller: Crown Companies
  • Brokers: Rob Carter & Morgan Hall - Berkeley Capital Advisors

The transaction highlights that Richard Greer and Neal Shalom acquired the asset from Crown Companies. The deal was represented by brokers Rob Carter and Morgan Hall from Berkeley Capital Advisors. Waterstone identified potential for growth at the property through enhanced leasing strategies and tenant synergies.

Players

Rob Carter
Berkeley Capital Advisors
Rob Carter
6 deals$93.8M volume(704) 564-2997
BROKER
Morgan Hall
Berkeley Capital Advisors
Morgan Hall
1 deal$32.8M volume(704) 401-0515
BROKER
Berkeley Capital Advisors
Berkeley Capital Advisors
BROKERAGE

Details

SOLD
IMAGE: Richard Greer, Neal Shalom, Rob Carter & Morgan Hall DATE: 9/24/2025 ADDRESS: 240 Harvey Street MARKET: Winston-Salem, NC ASSET TYPE: Retail BUYER: Richard Greer & Neal Shalom SELLER: Crown Companies BROKERS: Rob Carter & Morgan Hall - Berkeley Capital Advisors (@BerkeleyCapital) SALE PRICE: $32,750,000 SF: 130,000 ~ PPSF: $251 NOTE: The Hanestowne Village Shopping Center in Winston-Salem, NC, purchased by Waterstone for $32.7 million, is a stabilized asset in a growing and affluent submarket, with upside through a concentrated leasing effort to create synergies amongst tenants and promote dwell time and cross shopping. Anchored by a high traffic Walmart Neighborhood Market, LA Fitness, a PF Chang’s and other complementary tenants, Hanestowne Village is strategically located along a busy thoroughfare between the two of the largest hospital systems in North Carolina. Waterstone sees upside at the property through leveraging its tenant relationships in order to maximize value and enhance long term asset appreciation.

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

$1,746,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$116,353.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$155,251.71
Annual Debt Service$1,863,020.50