Piedmont Capital Acquires The Shops At Franklin Square In Gastonia For $24.5M
2900 East Franklin Boulevard & 3086 East Franklin Boulevard
$24,500,000
$91/SF
Building Size
268,428 SF
Asset Type
Retail
Closing
Apr 3, 2026
AI
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
Gastonia Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.65%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93