George R. Kornegay IV And Trey Morgan Acquire South Union Shopping Center In Concord For Unspecified Amount

The property involved in this transaction is a retail asset located at 834–860 Union Street South in Concord, NC, with a total square footage of 80,184. The asset is part of the South Union Shopping Center, which is anchored by Food Lion.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: Not disclosed
• Address: 834–860 Union Street South
• Market: Concord, NC
• Asset Size: 80,184 square feet
• Buyer: George R. Kornegay IV - Idlewood Capital; Trey Morgan - The Morgan Company
• Broker: Matthew Sagehorn - Berkeley Capital Advisors

The buyers, George R. Kornegay IV and Trey Morgan, represent Idlewood Capital and The Morgan Company, respectively. The joint venture plans to renovate the façade with new storefronts, signage, awnings, and canopies, with construction expected to commence in Q1 2027 and be completed by summer.