CHARLOTTE, NORTH CAROLINA:  Cushman & Wakefield and its Carolina’s-based affiliate Cushman & Wakefield | Thalhimer, announced today that its Capital Markets Group has represented the seller, Madison Marquette, in the sale of Monroe Crossing, a 379,630-square foot regional mall located on W. Roosevelt Blvd. in Monroe, North Carolina.

Located in the heart of the major retail node of Monroe, with great visibility from Highway 74, the center boasts the top performing Belk’s “Flagship” store, which is one of the top 10 stores nationally.  Other notable tenants include JC Penney, Sears, Hibbett Sports, Shoe Carnival, Buffalo Wild Wings, and Planet Fitness.  The buyer was Time Equities; the purchase price was undisclosed.

Members of the Cushman & Wakefield team in Dallas, Texas that marketed the property included Executive Director, Tom Salanty, Associate Director Chris Harden, and Associate Kris Von Hohn.  The sales team also included local market expert at Cushman & Wakefield | Thalhimer in Charlotte, NC, Senior Vice President, Brian A. Craver, CCIM.

“Monroe Crossing received a great deal of interest from investors due to the asset’s strong fundamentals and competitive market position.   We continue to see investors buy into the Charlotte market due to the diverse  economy and continued job growth.  The strength of this asset against this backdrop of an a vibrant economy created a “win-win” for both buyer and seller,” notes Tom Salanty of Cushman & Wakefield.

“Time Equities Inc. strives to acquire well-positioned retail centers in highly-trafficked areas with long-term upside.  We were attracted to the strong leasing momentum and tenant productivity at the property,” said Ami Ziff, National Director of Retail with Time Equities Inc. “The successful completion of this acquisition marks our firm’s third enclosed mall and we continue to explore opportunities to maintain this momentum.”

“The performance of the Cushman team throughout the entire process was exemplary. Reflecting a high level of market insight, transactional experience, and professionalism, Tom Salanty and his team orchestrated highly effective and almost seamless process that resulted in an execution we are most pleased with,” said Jay Lask of Madison Marquette.