New York City-based Cohen & Steers Income Opportunities REIT, Inc. (CNSREIT) recently announced the acquisition of a high-quality community shopping center in Charlotte, N.C., through a long-term strategic partnership with Sterling Organization, a real estate investment firm that specializes in shopping centers in the U.S.

The property is Winslow Bay Commons, a shopping center that incorporates 268,000 square feet of Charlotte retail space and is located in the affluent suburban submarket of Mooresville, N.C.

Winslow Bay Commons is a regionally accessible retail destination that’s strategically positioned with direct connectivity to Interstate 77 and is home to a notable tenant roster of dominant national retailers, including: shadow-anchor Target; T.J.Maxx; HomeGoods; Dick’s Sporting Goods; and Ross Dress for Less. The retail space here was reportedly 97% leased at the time of sale.

“Charlotte ranks highly among our target markets based on its dynamic, long-term growth profile, so we are quite pleased to plant the CNSREIT flag here,” said James S. Corl, chief executive officer of CNSREIT and head of the private real estate group at Cohen & Steers. “The I-77 corridor on the north side of Charlotte is where a disproportionate amount of this growth is being channeled. Mooresville, where the center is located, experienced population growth of 53% over the last decade and is the third-fastest-growing city in North Carolina, according to the 2025 American Community Survey. Owning the dominant center at a rapidly growing retail node is exactly how we want to be positioned.”

The finance, technology, and health care sectors contribute significantly to the strong economic base of the Charlotte market. That aligns well with the Cohen & Steers investment strategy in the sector — acquiring high-quality properties that seek to generate attractive income and growth potential alongside best-in-class operators, in addition to a focus on well-anchored, necessity-driven shopping centers in strategic locations.