Principal Asset Management has acquired a retail property in Charlotte, N.C., on behalf of its Principal Inside SCPI, further advancing the vehicle’s transatlantic expansion strategy.
Located at 8813 JW Clay Blvd. in Charlotte’s University City district, one of Charlotte’s leading education and employment hubs, the strip retail asset was acquired for $12.4 million. The location benefits from direct access to Interstate 85 and proximity to the LYNX Blue Line light rail extension and the catchment area also has experienced strong residential growth in recent years, providing sustained support for retail demand.
The acquisition is held within a dedicated vehicle provided by The Principal Group, enabling Principal Inside SCPI to secure U.S. assets ahead of capital raising and subsequently acquire them progressively as fundraising proceeds, until it becomes the sole owner. This approach provides investors with earlier access to identified investment opportunities and
