Hines Lands $151M for Charlotte Retail Center
The company bought the asset two months ago.
Hines has secured a $151 million permanent loan from Truist Bank for Birkdale Village, a 234,418-square-foot retail center in Huntersville, N.C., according to Yardi Matrix information.
The firm purchased the asset two months ago from Jamestown for $273.9 million, or $1,168 per square foot, the same source shows. The seller has stayed on as property manager.
Earlier this month, Hines acquired a retail property in Carmel, Ind., from Washington Prime Group. Clay Terrace, a 493,000-square-foot open-air asset, changed hands for $199 million.
Birkdale Village, up close
Birkdale Village came online in 2001 at 8712 Lindholm Drive. The retail property underwent cosmetic renovations in 2020 and comprises 24 buildings across a 25-acre site. The tenant roster includes SEPHORA, Barnes & Noble, Starbucks, lululemon, Victoria’s Secret, Pottery Barn, The Cheesecake Factory and Bath & Body Works.
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The shopping center is close to U.S. Route 21, as well as the interchange between Interstate 77 and North Carolina State Route 73. Downtown Charlotte is some 16 miles south.
During the first quarter of this year, Charlotte’s net absorption figure clocked in at a negative 221,134 square feet, according to a Cushman & Wakefield retail report. In contrast, the second quarter of 2025 recorded positive net absorption of 303,155 square feet, signaling a rebound in demand. The metro’s average vacancy rate stood at 3.7 percent during the second quarter, down 50 basis points from the previous quarter.
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