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Piedmont Capital Acquires The Shops At Franklin Square In Gastonia For $24.5M
SOLD
$24,500,000
North Carolina
See Similar DealsRetail268,428 SF
Sold 04/03/2026
SOLD
Piedmont Capital Acquires The Shops At Franklin Square In Gastonia For $24.5M
2900 East Franklin Boulevard & 3086 East Franklin Boulevard
See Similar DealsRetail268,428 SF
Sold 04/03/2026
Summary
NORTH CAROLINA
Asset Type:Retail
Price Per Square Foot:$91
Total Square Footage:268,428 SF
Transaction Type:Sale
Piedmont Capital has acquired a retail asset located at 3900 East Franklin Boulevard in Gastonia, NC. The sale was finalized for a total of $24,500,000. The property spans approximately 134,214 square feet and is anchored by Ashley Furniture, with an occupancy rate of 98%.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $24,500,000
- Square Footage: 134,214
- Price Per Square Foot: $183
- Location: 3900 East Franklin Boulevard, Gastonia, NC
- Buyer: Piedmont Capital
- Brokers: Thomas Kolarczyk & Andrew Jomantas - JLL
This transaction marks Piedmont Capital's second retail purchase in Gaston County and its third closing within the year 2026.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,306,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$87,043.32
Cash-on-Cash Return-1.27%
Monthly Debt Service$116,142.50
Annual Debt Service$1,393,709.99
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