Cushman & Wakefield Brokers Sale Of Matthews Corners
12 Oct, 2005, Atlanta, GA
Kris J. Cooper and Margaret K. Caldwell of Cushman & Wakefield's
Cushman & Wakefield's Atlanta Office has brokered the $21.8 million sale of Matthews Corners in the Matthews submarket of Charlotte, North Carolina on behalf of Atlanta-based Branch Properties. Kris J. Cooper and Margaret K. Caldwell of Cushman & Wakefield represented the seller, Branch Properties, in the transaction.
Durham, North Carolina - based Zapolski + Rudd, with a partner, acquired the 167,459- square foot, HHGregg, Marshalls, Hobby Lobby and Linens N' Things anchored power center shopping center, which is located at the intersection of U.S. 74 and N.C. Highway 51 in Matthews (in the rapidly growing southeast section of Charlotte).
"We were able to consummate this transaction with one of the lowest cap rates seen in a number of years because of the continued "hot" retail capital markets and the trophy nature of the center," said Cooper, a senior director at Cushman & Wakefield.
Cushman & Wakefield is the world's largest privately held real estate services firm. Founded in 1917, the firm has 175 offices in 50 countries around the globe, and 11,000+ talented professionals. Cushman & Wakefield delivers integrated solutions by actively advising, implementing and managing on behalf of landlords, tenants, and investors through every stage of the real estate process. These solutions include helping clients to buy, sell, finance, lease, and manage assets. C&W also provides valuation advice, strategic planning and research, portfolio analysis, and site selection and space location assistance, among many other advisory services. To find out more about Cushman & Wakefield, please call 1-800-376-3133.