Slate Retail REIT Lands Mooresville Town Square in Charlotte

The $16.7 million purchase marks the REIT's sixth acquisition in North Carolina.

by Laura Calugar

Mooresville Town Square

Mooresville Town Square

Charlotte, N.C.—Slate Retail REIT, an owner and operator of U.S. grocery-anchored real estate, has recently announced its planned $16.7 million acquisition of Mooresville Town Square in the Charlotte metro area. Slate Asset Management LP is the REIT’s manager.

Mooresville Town Square is a 122,117-square-foot retail center that is 88 percent occupied by Lowes Foods. After a recent $5 million renovation, the Lowes Foods store now promotes locally sourced goods and includes a new bakery, smokehouse and wine bar.

Located along Williamson Road at Brawley School Road in Mooresville, one of the fastest-growing markets in North Carolina, Mooresville Town Square is the area’s newest lifestyle center. Retailers are drawn to Mooresville Town Square due to its high traffic counts and strong income demographics. The center boasts upscale architecture with outdoor seating areas and easy access to I-77.

Slate Retail REIT focuses on acquiring U.S. grocery-anchored real estate. The REIT owns and operates more than $1 billion of assets located primarily across the top 50 U.S. metro markets. Mooresville Town Square is the REIT’s sixth property in North Carolina.

Image courtesy of Race City USA