**CenterSquare Acquires Colonnade at Kings Grant in Charlotte, NC**
Pennsylvania-based CenterSquare, a global investment manager, has acquired Colonnade at Kings Grant — a 21,265-square-foot, three-building essential service retail center located in Charlotte, North Carolina.
Situated at 8520 Pit Stop Court in Concord, near the popular Concord Mills mall and a major highway intersection, the property occupies a key spot in a well-established retail corridor. The Colonnade was previously owned by Silver Spring Ventures LLC, which purchased the property in July 2018 for $5.75 million.
Originally built in 2005, CenterSquare plans to revamp the retail center with fresh paint, a new roof, and enhanced landscaping as part of its revitalization strategy.
This acquisition marks CenterSquare’s third deal in the Charlotte market this year, following the purchases of Gold Hill Commerce Park for $4.7 million and the Shoppes at Canterbury Glen for $4.1 million.
The Colonnade is fully leased to a mix of national and regional tenants, including Jimmy John’s, Sweet Frog, and Original Mattress.
The acquisition is CenterSquare’s 22nd essential service retail investment in the Southeast and 60th nationwide.
