September 24, 2019

Marcus & Millichap Brokers $17M Sale of Charlotte Retail Property

Marcus & Millichap has arranged the $16.8 million sale of a net-leased retail property occupied by Dick’s Sporting Goods in Charlotte.

Located at 4323 Barclay Downs Dr., the property is an out-parcel at Charlotte’s South Park Mall, which features a tenant roster that includes Apple, Coach, Pottery Barn and Lululemon. It is the 10th largest mall on the East Coast.

Karly Iacono of Marcus & Millichap’s Saddle Brook, N.J. office represented the seller, a private investor, in the transaction. The buyer was a syndicator of foreign equity. Additionally, Rick Lechtman and Dan Lisser of Marcus & Millichap secured $10.9 million in acquisition financing on behalf of the buyer.