JV Lands $43M Charlotte Retail CenterBy
A partnership between American Realty Advisors, a California institutional capital management firm, and Stonemar Properties, a New York investment firm, acquired Ballantyne Village, a 171,559-square-foot mixed-use retail entertainment property in Charlotte, N.C. The asset traded for $43.2 million, according to Mecklenburg County real estate records. Rob Carter, David Webb, Rad von Werssowetz, and Alex Quarrier of Berkeley Capital Advisors worked on behalf of the seller, MV Ballantyne Village LLC, which purchased the asset for $26 million back in 2013.
Located at 14825 Ballantyne Village Way, Ballantyne Village is adjacent to Ballantyne Corporate Park, a four-million-square-foot office property which sold earlier this year for roughly $1 billion. Ballantyne Village inludes more than 13 food and beverage options, various personal service providers, two schools, 25,000 square feet of Class A office space as well as outdoor gathering spaces and social areas for events such as live music, children’s activities, and art programs…
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