{"id":2235,"date":"2026-06-26T17:05:26","date_gmt":"2026-06-26T17:05:26","guid":{"rendered":"https:\/\/charlotterelocationguide.com\/?p=2235"},"modified":"2026-06-26T17:05:26","modified_gmt":"2026-06-26T17:05:26","slug":"charlotte-retail-center-near-northlake-mall-sells-for-37-less-than-prior-sale","status":"publish","type":"post","link":"https:\/\/charlotterelocationguide.com\/?p=2235","title":{"rendered":"Charlotte retail center near Northlake Mall sells for 37% less than prior sale"},"content":{"rendered":"

New York retail real estate firm DLC Management<\/a> bought a shopping center across from Northlake Mal<\/a>l in north Charlotte for $36.6 million \u2014 that\u2019s 37% less than when it sold 15 years ago.<\/p>\n

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Perimeter Woods<\/a>, at 10125 Perimeter Parkway<\/a> near interstates 485 and 77, includes retailers Best Buy<\/a>, PetSmart, Burlington<\/a> and Michaels. The sale did not include the Lowe\u2019s home improvement site next door.<\/p>\n

The sale is part of a six-property purchase completed in partnership with DRA Advisors, that includes over 1.1 million square feet of retail space in five states, DLC said Thursday.<\/p>\n

Kite Realty Group<\/a>, under KRG Charlotte Perimeter Woods LLC, sold the 12.6-acre Perimeter Woods open-air shopping center to DRA, under G&I XI Perimeter Woods LLC, on June 17, Mecklenburg Property records show.<\/p>\n

In 2011, Indianapolis-based Kite Realty had purchased Perimeter Woods for nearly $58.2 million, according to county property records. The appraised value for the center that was built in 2008 is $22 million, property tax records show.<\/p>\n

Just last year, the two-story, 1.1-million-square-foot Northlake Mall nearby sold<\/a> for $39 million to Atlanta-based real estate firm Hull Property Group. The mall fell into receivership<\/a> in 2021 after failing to pay its debts.<\/p>\n

Some office buildings in Charlotte<\/a> have seen price drops, too.<\/p>\n

This month, Minnesota-based Onward Investors bought three buildings<\/a> in Coliseum Centre office park near Charlotte Douglas International Airport for $51 million. That\u2019s half the cost private equity real estate firm South Street Partners paid just six years ago.<\/p>\n

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The Charlotte purchase is part of DLC\u2019s broader expansion strategy in high-growth retail markets with shopping centers in areas of population growth and limited new retail centers, company CEO Adam Ifshin said in a statement.<\/p>\n

Along with the Charlotte center, the other five are in Grapevine and College Station, Texas; Los Angeles; Memphis; and Brunswick, New Jersey. The properties are 95% occupied, DLC said.<\/p>\n

DLC will focus on operational improvements at the newly acquired sites, the firm said. DLC officials weren\u2019t immediately available to respond to a request for further comment by Friday.<\/p>\n

DLC owns five other shopping centers in North Carolina, with one in the Charlotte region at Pavilion At King\u2019s Grant<\/a> in Concord, according to the company\u2019s website. Retailers at the 8050 Concord Mills Blvd. center include TJMaxx, HomeGoods, Total Wine & More, Ulta Beauty and Barnes & Noble.<\/p>\n

The King\u2019s Grant center sold in December as part of an eight-property, $429 million deal<\/a> that also included partnering with DRA, according to DCL. The 306,440-square-foot shopping center in Concord sold for $64.5 million, Charlotte Business Journal<\/a> reported.<\/p>\n

The Elmsford, N.Y.-based firm now owns and operates nearly 100 open-air shopping centers nationwide, totaling over 24 million square feet. DLC has more than $4 billion in assets.<\/p>\n

Read more Guy Fieri enters the world of NASCAR as part-owner of NC-based Cup series team<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

North Charlotte shopping center with Best Buy and Michaels, Perimeter Woods., sold to NY investment company DLC Management. 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