{"id":1004156049,"date":"2016-10-19T12:04:42","date_gmt":"2016-10-19T20:04:42","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004156049"},"modified":"2020-05-13T03:00:37","modified_gmt":"2020-05-13T11:00:37","slug":"inventrust-nabs-grocery-anchored-center-for-31m-in-charlotte","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/inventrust-nabs-grocery-anchored-center-for-31m-in-charlotte\/","title":{"rendered":"InvenTrust Nabs Grocery-Anchored Center for $31M in Charlotte"},"content":{"rendered":"<p>By Laura Calugar<\/p>\n<div id=\"attachment_1004156050\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/northcross-commons-charlotte.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004156050\" data-attachment-id=\"1004156050\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/inventrust-nabs-grocery-anchored-center-for-31m-in-charlotte\/northcross-commons-charlotte\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/northcross-commons-charlotte.jpg\" data-orig-size=\"1951,900\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"northcross commons, charlotte\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/northcross-commons-charlotte.jpg?w=1024\" class=\"wp-image-1004156050 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/northcross-commons-charlotte.jpg\" alt=\"Northcross Commons \" width=\"300\" height=\"138\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/northcross-commons-charlotte.jpg 1951w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/northcross-commons-charlotte.jpg?resize=300,138 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/northcross-commons-charlotte.jpg?resize=768,354 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/northcross-commons-charlotte.jpg?resize=1024,472 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/northcross-commons-charlotte.jpg?resize=1536,709 1536w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004156050\" class=\"wp-caption-text\">Northcross Commons<\/p><\/div>\n<p><strong>Charlotte, N.C<\/strong>.\u2014<a href=\"https:\/\/www.inventrustproperties.com\/\" rel=\"nofollow\" target=\"_blank\">InvenTrust Properties Corp.<\/a> recently acquired Northcross Commons, a <a href=\"https:\/\/www.wholefoodsmarket.com\/\" rel=\"nofollow\" target=\"_blank\">Whole Foods<\/a>-anchored center located in Huntersville, part of the Charlotte MSA, for approximately $31 million.<\/p>\n<p>Whole Foods opened its first store in 1980 in Austin, Texas. Since then, the firm has grown to 460 stores throughout the U.K., Canada and 42 U.S. states. With more than 85,000 employees, Whole Foods is the eighth largest food and drug store in the U.S. After the arrival of Whole Foods in the 61,000-square-foot center situated on 8.8 acres, Northcross Commons underwent enhancements to the building fa\u00e7ade, parking lot and landscape areas.<\/p>\n<div id=\"attachment_1004156051\" style=\"width: 310px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Whole-foods-market-charlotte.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004156051\" data-attachment-id=\"1004156051\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/inventrust-nabs-grocery-anchored-center-for-31m-in-charlotte\/whole-foods-market-charlotte\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Whole-foods-market-charlotte.jpg\" data-orig-size=\"1361,900\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Whole foods market, charlotte\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Whole-foods-market-charlotte.jpg?w=1024\" class=\"wp-image-1004156051 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Whole-foods-market-charlotte.jpg\" alt=\"Northcross Commons \" width=\"300\" height=\"198\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Whole-foods-market-charlotte.jpg 1361w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Whole-foods-market-charlotte.jpg?resize=300,198 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Whole-foods-market-charlotte.jpg?resize=768,508 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Whole-foods-market-charlotte.jpg?resize=1024,677 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004156051\" class=\"wp-caption-text\">Northcross Commons<\/p><\/div>\n<p>\u201cThe property will improve our asset base and provide us with additional economies of scale in the Charlotte market. Northcross Commons builds on our hub-and-spoke strategy and is accretive to InvenTrust\u2019s portfolio,\u201d Michael E. Podboy, executive vice president, CFO &amp; CIO of <a href=\"https:\/\/www.commercialsearch.com\/news\/inventrust-goes-shopping-in-san-diego\/\" target=\"_blank\">InvenTrust<\/a>, said in a prepared statement.<\/p>\n<p>Northcross Commons is just 15 miles north of downtown Charlotte.<\/p>\n<p>\u201cNorthcross Commons is a fantastic addition to our existing Charlotte MSA properties, which include Poplin Place in Monroe and <a href=\"https:\/\/www.shopatsycamorecommons.com\/\" rel=\"nofollow\" target=\"_blank\">Sycamore Commons<\/a> in Matthews. We believe this asset possesses the ideal combination of internet-proof retailers, geographic location and demographics that will drive significant value over the long term to our investors,\u201d said Christopher Covey, senior vice president of transactions.<\/p>\n<p>InvenTrust became a self-managed REIT in 2014. As of June 2016, it is the owner and manager of 91 multi-tenant retail properties, comprising 15.7 million square feet of retail space.<\/p>\n<p><em>Images courtesy of <a href=\"https:\/\/www.greenbergfarrow.com\/\" rel=\"nofollow\" target=\"_blank\">Greenberg Farrow<\/a> <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 61,000-square-foot, Whole Food-anchored center is 15 miles away from downtown Charlotte.<\/p>\n","protected":false},"author":238,"featured_media":1004156050,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1582,21743,21742,21749],"tags":[],"class_list":["post-1004156049","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-charlotte","category-deals","category-latest","category-retail"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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