CBRE Investors buys stake in Charlotte mall

CB Richard Ellis Investors recently announced the acquisition of a joint venture interest in 13 buildings totaling 236,497 square feet in the Rivergate Shopping Center, a 543,282-square-foot shopping center in Charlotte, N.C.

CBRE, in partnership with Childress Klein Properties, paid an undisclosed price in the deal.

Built in 2007 by Childress Klein, Rivergate Shopping Center sits within the Steele Creek area of southwest Charlotte, an area that has seen significant population growth over the past five years, according to a press statement.

At the time of purchase, the property was 94 percent leased to tenants that included Best Buy, OfficeMax, Marshalls, Books-a-Million and PetSmart, and is shadow anchored by Target and Home Depot.

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.