Grande Promenade sells for $55.5 million

Joint venture gains second asset in Charlotte

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A joint venture between ZR Strategic Property Investments LLC and US Advisors LLC has purchased Grande Promenade, a 202,555 square-foot retail center in Charlotte, N.C. A partnership between Ghazi NC LLC and St. James Place of Charlotte LLC sold the property for $55.5 million. The property, located at the intersection of WT Harris Boulevard and Tryon Street, is ZR Strategic and US Advisors' second purchase in the city, according to a press statement. Tenants at the time of purchase included Ashley Furniture, Total Wine, The Melting Pot, FedEx Kinko's, Jos. A. Banks, numerous restaurants, as well as service-related businesses. Encino, Calif.-based Marcus & Millichap, a commercial real estate brokerage operating nationwide, brokered the deal....