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Simon Property Group Acquires Phillips Place Retail Property In Charlotte For $144.8M From Lincoln Harris
SOLD
$144,800,000
North Carolina
See Similar DealsRetail133,059 SF
Sold 11/20/2025
SOLD
Simon Property Group Acquires Phillips Place Retail Property In Charlotte For $144.8M From Lincoln Harris
6800 Phillips Place Court
See Similar DealsRetail133,059 SF
Sold 11/20/2025
Summary
NORTH CAROLINA
Asset Type:Retail
Price Per Square Foot:$1,088
Total Square Footage:133,059 SF
Transaction Type:Sale
Simon Property Group purchased the retail property located at 6800 Phillips Place Court in Charlotte, NC. The property spans 133,059 square feet and was acquired for a total of $144,800,000, which equates to approximately $1,088 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $144,800,000
- Buyer: Simon Property Group
- Seller: Lincoln Harris
- Square Footage: 133,059
- Price per Square Foot: $1,088
- Market: Charlotte, NC
The transaction involved Simon Property Group as the buyer and Lincoln Harris as the seller, marking a significant deal in the retail sector of the SouthPark area in Charlotte.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,722,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$514,443.81
Cash-on-Cash Return-1.27%
Monthly Debt Service$686,425.87
Annual Debt Service$8,237,110.48
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