Firm pays $12.4 million for N. Charleston shopping center, will renovate property
A North Carolina real estate firm has paid nearly $12.4 million for a large shopping center across the street from Northwoods Mall.
Charlotte-based Hawthorne Retail Partners also said in a statement that it plans to renovate the newly acquired North Rivers Market next year,
Tenants in the 266,588-square-foot property at 7800 Rivers Ave., near Eagle Landing Boulevard, include Toys R Us, Marshalls, Ollie’s Bargain Outlet, Burke’s Outlet and China Buffet.
Built in 1987, the retail center is about 87 percent leased and is on a nearly 22-acre tract.
Hawthorne said the improvements are planned for the property’s facade, landscaping and parking lot.
The seller was an affiliate of New York-based Kimco Realty Corp., which had owned North Rivers Market since late 1997. It paid $14.7 million for the shopping center, or 16 percent more than the most recent sale price.