{"id":1004782501,"date":"2025-12-29T02:37:11","date_gmt":"2025-12-29T10:37:11","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004782501"},"modified":"2026-01-08T01:43:59","modified_gmt":"2026-01-08T09:43:59","slug":"hines-lands-151m-for-charlotte-retail-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hines-lands-151m-for-charlotte-retail-center\/","title":{"rendered":"Hines Lands $151M for Charlotte Retail Center"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/12\/image_9dc34f-edited.png\"><img loading=\"lazy\" decoding=\"async\" width=\"885\" height=\"664\" data-attachment-id=\"1004781054\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/image-52\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/12\/image_9dc34f-edited.png\" data-orig-size=\"885,664\" data-comments-opened=\"0\" 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=\"The Source in White Plains, N.Y.\" data-image-description=\"&lt;p&gt;Image courtesy of CBRE.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Exterior shot of The Source, a retail center in White Plains, N.Y.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/12\/image_9dc34f-edited.png?w=885\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/12\/image_9dc34f-edited.png?w=885\" alt=\"Exterior shot of The Source, a retail center in White Plains, N.Y.\" class=\"wp-image-1004781054\" style=\"width:400px;height:auto\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/12\/image_9dc34f-edited.png 885w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/12\/image_9dc34f-edited.png?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/12\/image_9dc34f-edited.png?resize=768,576 768w\" sizes=\"auto, (max-width: 885px) 100vw, 885px\" \/><\/a><figcaption class=\"wp-element-caption\">Part of Hines&#8217; retail portfolio is The Source, a shopping center in White Plains, N.Y. <em>Image courtesy of CBRE<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>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. <\/p>\n\n\n\n<p>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.<\/p>\n\n\n\n<p>Earlier this month, <a href=\"https:\/\/www.commercialsearch.com\/news\/hines-reit-pays-199m-for-indianapolis-retail-asset\/\">Hines acquired a retail property<\/a> in Carmel, Ind., from Washington Prime Group. Clay Terrace, a 493,000-square-foot open-air asset, changed hands for $199 million.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-birkdale-village-up-close\">Birkdale Village, up close<\/h2>\n\n\n\n<p>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 &amp; Noble, Starbucks, lululemon, Victoria\u2019s Secret, Pottery Barn, The Cheesecake Factory and Bath &amp; Body Works.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO: <\/strong><a href=\"https:\/\/www.commercialsearch.com\/news\/retail-market-trends\/\">Retail Industry Trends<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>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.<\/p>\n\n\n\n<p>During the first quarter of this year, Charlotte&#8217;s net absorption figure clocked in at a negative 221,134 square feet, according to a <a href=\"https:\/\/www.cushmanwakefield.com\/en\/united-states\/insights\/us-marketbeats\/us-shopping-center-marketbeat-report\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Cushman &amp; Wakefield retail report<\/a>. In contrast, the second quarter of 2025 recorded positive net absorption of 303,155 square feet, signaling a rebound in demand. The metro&#8217;s average vacancy rate stood at 3.7 percent during the second quarter, down 50 basis points from the previous quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company bought the asset two months ago.<\/p>\n","protected":false},"author":3619,"featured_media":1004781054,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1582,21825,21742,21749,32781],"tags":[32797,51748,52227],"class_list":["post-1004782501","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-charlotte","category-finance","category-latest","category-retail","category-southeast","tag-hines","tag-jamestown","tag-truist-bank"],"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>Hines Lands $151M for Charlotte Retail Center - 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