Avison Young brokers sale of Eastchester Shopping Center in High Point5 Feb 2021
Neighborhood retail center sells for $9,450,000
Greenville, SC – Avison Young announced today that it has brokered the sale of a 63,000-square-foot (sf) neighborhood shopping center located at 274 Eastchester Drive in High Point, North Carolina.
Grant Linderman, Vice President and Gary Lyons, Principal, with Avison Young’s investment sales team, exclusively represented the seller, LSP Verris Eastchester, LLC. The center was purchased by Peters Development, LLC based in High Point.
Eastchester Shopping Center is a 100% occupied, retail center situated on ±5.9 acres with more than 680 feet of road frontage along High Point’s busiest corridor, NC 68/Eastchester Drive. Eastchester Shopping Center has a diverse mix of tenants that are nationally recognized brands including Office Depot, Dollar Tree, Hooters, Dunkin’ (outparcel), H&R Block and Plato’s Closet.
“While our search initially focused on regional and national firms, we were pleased that a local investment company stepped up to acquire this terrific asset,” commented Linderman. “We enjoyed working with Peters’ acquisitions team and also appreciated the opportunity to represent LSP Verris in this successful transaction.”