Chattanooga, Tenn.–based Hutton has sold Promenade at Carolina Reserve, a 100 percent leased super-regional retail center with 255,868 square feet of multitenant space in Indian Land, S.C., a suburb of Charlotte, N.C.
The financial terms were not disclosed; however, Bandera Ventures acquired the asset.
Completed in 2018, Promenade at Carolina Reserve is anchored by a best-in-class, high-performing tenant lineup that includes TJ Maxx, Burlington, Ross Dress for Less, HomeGoods, Ulta Beauty, Hobby Lobby and Petco. In addition, the center includes five single-tenant outparcel pads totaling 22,410 square feet and occupied by Heartland Dental, The Habit Burger Grill, Taco Bell, Chili’s and Mavis Discount. According to Placer.ai, Promenade at Carolina Reserve is the most visited retail center in a five-mile radius, given its 2.27 million annual visitors, and pulls from an extended trade area that includes a more than 50-mile radius and 305,000 customers.
Promenade
