{"id":1004202886,"date":"2018-01-09T05:47:20","date_gmt":"2018-01-09T13:47:20","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004202886"},"modified":"2022-12-08T21:11:53","modified_gmt":"2022-12-09T05:11:53","slug":"gbt-realty-lands-3rd-shopping-center-in-6-months","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/gbt-realty-lands-3rd-shopping-center-in-6-months\/","title":{"rendered":"GBT Realty Lands 3rd Shopping Center in 6 Months"},"content":{"rendered":"<p>By Laura Calugar<\/p>\n<div id=\"attachment_1004202891\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Overlook-Village.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004202891\" data-attachment-id=\"1004202891\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/gbt-realty-lands-3rd-shopping-center-in-6-months\/overlook-village\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Overlook-Village.jpg\" data-orig-size=\"1139,853\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Laura Calugar&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1515498208&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;1&quot;}\" data-image-title=\"Overlook Village\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Overlook-Village.jpg?w=1024\" class=\"wp-image-1004202891 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Overlook-Village.jpg\" alt=\"The Overlook Village in Asheville, N.C. \" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Overlook-Village.jpg 1139w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Overlook-Village.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Overlook-Village.jpg?resize=768,575 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Overlook-Village.jpg?resize=1024,767 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004202891\" class=\"wp-caption-text\">The Overlook Village in Asheville, N.C.<\/p><\/div>\n<p>GBT Realty Corp.\u2019s Capital Holdings division has purchased Overlook Village, a 153,820-square-foot shopping center in Asheville, N.C., for $25.5 million. The sale marks GBT Realty\u2019s third acquisition in the past six months. In September 2017, the company purchased the McFarland Plaza Shopping Center, a 234,124-square-foot <a href=\"https:\/\/www.commercialsearch.com\/news\/gbt-realty-acquires-alabama-retail-center\/\">retail center<\/a> in Tuscaloosa, Ala. \u00a0<\/p>\n<p>Built in 1989, Overlook Village includes national tenants such as HomeGoods, T.J. Maxx and Ross Dress for Less, among others. At the time of sale, the shopping center was 80 percent leased. Redevelopment plans are expected to be finalized later this spring.<\/p>\n<p>Berkeley Capital Advisors represented the seller, KIMCO Realty.<\/p>\n<h2>Vacant anchor space<\/h2>\n<p>Located along the city\u2019s main retail corridor, Overlook Village is in close proximity to Interstate 240 and adjacent to Asheville Mall. One of the two intersections near the property is shared with Dreamland Shopping Center, that\u00a0houses Lowe\u2019s Home Improvement, Bed, Bath &amp; Beyond and Best Buy.<\/p>\n<p><em>\u201cOverlook Village is an ideal acquisition opportunity given its locational drivers, barriers to entry and upside potential with the lease-up of the existing vacancies. The vacant anchor space formerly occupied by HHGregg fronts South Tunnel Road and is well-positioned due to its accessibility. The available space is a top option for tenants entering the market as well as those seeking to improve their existing storefront due to the market\u2019s limited inventory of traditional junior box storefronts,\u201d<\/em> said Scott Porter, managing director at Capital Holdings, GBT Realty, in prepared remarks. \u00a0\u00a0<\/p>\n<p>GBT targets under-performing, discount-focused, grocery-anchored and service-oriented assets throughout the Southeast, Southwest and Midwest. The company intends to acquire $1 billion in retail centers over the next eight to 10 years.<\/p>\n<p><em>Image via Google Street View <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company\u2019s Capital Holdings division purchased Overlook Village, a 153,820-square-foot commercial property in Asheville, N.C. KIMCO Realty sold the asset for $25.5 million. <\/p>\n","protected":false},"author":238,"featured_media":1004202891,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,21742,21749,32781],"tags":[35477,34312,38788,34368],"class_list":["post-1004202886","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-latest","category-retail","category-southeast","tag-berkeley-capital-advisors","tag-gbt-realty-corporation","tag-homegoods","tag-kimco-realty-corporation"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>GBT Realty Lands 3rd Shopping Center in 6 Months - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/gbt-realty-lands-3rd-shopping-center-in-6-months\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GBT Realty Lands 3rd Shopping Center in 6 Months\" \/>\n<meta property=\"og:description\" content=\"The company\u2019s Capital Holdings division purchased Overlook Village, a 153,820-square-foot commercial property in Asheville, N.C. 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