InvenTrust Properties Acquires Retail Space At Rea Farms Development In Charlotte For $80M

InvenTrust Properties acquired a retail property located at 9855 Sandy Rock Place in Charlotte, NC. The property spans 182,000 square feet and is part of a mixed-use project that covers 188 acres, featuring a 76,000-square-foot Harris Teeter, apartments, senior housing, single-family homes, townhomes, and a Life Time fitness gym. The sale was completed for $80,000,000, equating to $439.56 per square foot.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $80,000,000
• Square Footage: 182,000
• Address: 9855 Sandy Rock Place
• Market: Charlotte, NC
• Seller: Barings
• Buyer: InvenTrust Properties
• Price per Square Foot: $439.56
• Acreage: 188

This transaction involved InvenTrust Properties as the buyer and Barings as the seller, indicating a significant acquisition within the retail market in the Charlotte area. The complexity of the mixed-use nature of the development suggests various potential for future growth and investment in the property.