Kamal Bhatia Of Silber Investment Properties Acquires Retail Center In Charlotte For $12.4M

The property asset involved in the transaction is an 11.7-acre fully leased retail center located at 8813 J W Clay Boulevard in Charlotte, North Carolina. The asset encompasses a total of 86,620 square feet, and the sale was finalized for a price of $12,400,000, which translates to a price per square foot of $143.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $12,400,000
• Address: 8813 J W Clay Boulevard
• Market: Charlotte, NC
• Asset Size (Acres): 11.7
• Square Footage: 86,620
• Price Per Square Foot: $143
• Buyer: Kamal Bhatia - Principal Asset Management
• Seller: Tero Ojanperä - Alto University Place
• Buyer's Representative: Silber Investment Properties
• Seller's Representative: Colliers

Principal Asset Management acquired the property from Alto University Place, which is anchored by national retailers including Michael’s, Office Depot, Guitar Center, and Ross Dress for Less. The property is completely leased out with no lease expirations projected before 2030.