Exclusive: Charlotte Retail Center Lands $49M
Wells Fargo originated the loan.
Rivercrest Realty Investors has secured a $48.6 million loan for Archdale Marketplace, a 179,949-square-foot retail property in Charlotte, N.C., according to Yardi Matrix information. Wells Fargo Bank issued the note.
Previous debt includes a $19.3 million CMBS mortgage originated in 2016 through Wilmington Trust. That note reached maturity in October.
The company had owned the property for 20 years. The 179,949-square-foot retail center occupies a 14-acre lot at 5831 South Blvd., near the intersection with Archdale Drive and along the LYNX light rail line. Interstate 77 is close, serving as the main north–south commuter route connecting suburban areas to Uptown Charlotte.
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Completed in 1991 and renovated in 2005, the shopping center is anchored by Food Lion and Planet Fitness. Other tenants include Family Dollar, Hibbett Sports, Citi Trends, Sally Beauty Supply and Bank of America, among others.
Rivercrest Realty Investors’ portfolio includes 24 retail properties spread across North Carolina, within major metros including Winston-Salem and Raleigh-Durham. In Charlotte specifically, the company has one other property, a five-building shopping center named Lake Wylie Plaza, which was acquired in 2013.
Strong fundamentals support the Queen City’s retail market
Charlotte’s retail sector kept tight fundamentals during the third quarter of 2026, according to a report by Colliers. The metro’s vacancy rate fell to 2.8 percent, reflecting sustained tenant demand and limited space availability. Smaller format properties continued to lead that trend, as vacancy in buildings below 10,000 square feet fell to 1.9 percent.
Strong population gains and continued job growth continued to support retail spending across the Queen City. Grocery-anchored and mixed-use projects remained central to the metro’s pipeline, which totaled 1.2 million square feet at the end of September.
Recent investments also involved retail assets within established properties with mixed-use design. Earlier this month, Lincoln Property Co., Vision Ventures and Hornets Sports & Entertainment purchased Queen City Quarter in Uptown. The 304,772-square-foot complex has 264,323 square feet of retail space.
Meanwhile, suburban power centers also attracted investors. In September, Waterstone Properties paid $87 million for Windsor Square Shopping Center in Matthews, N.C. The 659,222-square-foot property was 99 percent leased at the time of sale.
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