Updated Sep 29, 2026
Joseph Sanz Of Orion Real Estate Group Acquires Watauga Village Retail Center For $26.1M
276 Watauga Village Drive
$26,100,000
$293/SF
Building Size
88,800 SF
Asset Type
Retail
Closing
Sep 28, 2026
About this deal
AI
The retail asset involved in the transaction is the Watauga Village retail center, located at 276 Watauga Village Drive in Boone, NC. This property spans 88,800 square feet and was sold for $26,100,000, equating to a price per square foot of $294.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $26,100,000
- Square Footage: 88,800
- Address: 276 Watauga Village Drive
- Market: Boone, NC
- Buyer: Joseph Sanz - Orion Real Estate Group
- Seller: WM Land Boone LP
- Broker: CBRE
This transaction marks Orion Real Estate Group's first multi-tenant retail acquisition in North Carolina, arranged by CBRE, which facilitated the deal between Joseph Sanz and WM Land Boone LP.
On the Map
$26,100,000
$293/SF
Retail
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Players
Boone Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.61%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93