Grande Promenade sells for $55.5 million

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.

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.