A major section of the HanesTowne Village shopping center off Stratford Road has been sold for $26.88 million to a Massachusetts commercial real-estate developer.
The sale consists of four lots with a combined 15.07 acres and 116,632 square feet of retail space.
Properties involved are anchors Walmart Neighborhood Market and LA Fitness, as well as the P.F. Chang’s restaurant and Kids Street Urgent Care.
The buyers are Hanestowne NS TIC LLC and Hanestowne WPG TIC LLC, both affiliates of Waterstone Properties of Needham, Mass., according to a Forsyth County Register of Deeds filing Thursday.
The sellers are Barnes CRE LLC, Crosby CRE LLC, Holder Commercial Ventures LLC, Marion Properties One LLC and Next Development LLC, all of Dobson.
The Crown Cos. LLC of Dobson developed the almost 32-acre site that once served as a major textile plant for Hanesbrands Inc.
Crown bought the nearly 32-acre property for $2.6 million in July 2009 along with an affiliate of Turnpike Properties LLC in Winston-Salem. The campus debuted in 2015.
Waterstone officials could not be immediately reached for comment on the purchase.
According to the Waterstone website, the Hanestowne purchase is its first in the Triad and just second in North Carolina.
Waterstone operates nationally with a focus on the East Coast. Its portfolio features more than 7 million square feet of retail space with another 3 million under development.
A new area of development for Waterstone are “large-scale, immersive, entertainment and experiential-based destination retail locations.”
“While at the forefront of this emerging concept, we still place a strong focus on our core specialties with a portfolio that includes strong-performing office, residential, medical and warehousing/logistical facilities, data centers, mixed-use and retail developments.”
rcraver@wsjournal.com
336-727-7376
@rcraverWSJ
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