Publix Supermarket Takes Over 63KSF at Cherry Road Crossing
- Sep 16, 2014
By Eliza Theiss, Associate Editor
Los Angeles-based Westwood Financial Corp. (WFC), one of the largest privately held owner-operators of retail properties in the U.S., has announced signing Publix Super Markets as the new anchor tenant at the Cherry Road Crossing retail center.
Publix, one of the fastest growing supermarket chains in the nation, has taken over a former Bi-Lo location in Rock Hill, S.C., which was vacated earlier this year. This newest store marks the seventh Bi-Lo location Publix has taken over in the Charlotte area in the past 12 months.
Publix now occupies the Bi-Lo-vacated 63,241-square-foot retail space at the WFC-owned Cherry Road Crossing retail center. The opening of Publix is expected to re-brand Cherry Road Crossing. “Publix is a grocer that many tenants will want to co-tenant with, thereby improving the value of the asset long-term,” declared Ken Loughran, senior vice president of asset management for WFC.
The 78,890-square-foot Cherry Road Crossing is currently 90 percent leased. Two other units, featuring between 1,200 and 1,549 square feet of space are still available at the center. Other tenants include The Wireless Co., Sally Beauty Supply, Jackson Hewitt Tax Services and Americash. Cherry Road Crossing is located at the center of the high-growth residential area of Rock Hill. The community comprises 100,191 residents with an average household income of $63,626.
Publix, an employee-owned premium supermarket chain, is expected to open three additional stores at former Bi-Lo locations, one of which will be at WFC-owned, 77,301-square-foot, Steele Creek Crossing in Charlotte.
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Image courtesy of Westwood Financial Corp.