Christenbury Corners | Sprouts Grocery Center
Christenbury Corners Shopping Center | 100% Leased | Grocery-Anchored | Charlotte MSA
Marketing description
Atlantic Capital Partners has been exclusively engaged to market Christenbury Corners, a premier grocery anchored neighborhood shopping center located in Concord, North Carolina within the Charlotte MSA. The property is strategically positioned at the signalized intersection of Christenbury Parkway and Derita Road, benefiting from combined traffic counts exceeding 40,000 vehicles per day and strong visibility within a dense, high growth suburban trade area.
Christenbury Corners totals 120,689 square feet across 21.12 acres and is 100% leased to a curated mix of national and regional tenants. The center is anchored by Sprouts Farmers Market and Kohl’s, with a strong lineup of daily-needs and service-oriented tenants including restaurants, fitness, and necessity retail. The asset also features a complementary collection of high-performing outparcels, further enhancing traffic generation, crossshopping synergy, and diversified income streams. Developed in 2019 and recently refreshed, the property offers investors a modern, well-maintained retail environment with minimal near-term capital requirements.
The offering provides investors with stable, in-place cash flow supported by a diversified rent roll and a weighted average lease term of approximately 8.8 years. In-place rents present mark-to-market upside, with several tenants operating below current market levels, providing embedded NOI growth potential through future lease rollover. Long-term anchor tenancy, contractual rent increases, and strong tenant demand within the submarket position the asset for continued income durability. Additionally, the property benefits from strong underlying real estate fundamentals driven by population growth, elevated household incomes, and sustained retail demand within the Concord submarket.
Investment highlights
GROCERY-ANCHORED REGIONAL SHOPPING CENTER WITH NATIONAL TENANCY - Institutional-quality 120,689 SF shopping center anchored by Sprouts Farmers Market and Kohl’s, providing consistent daily-needs traffic and strong regional draw
STABILIZED, 100% LEASED ASSET WITH DURABLE CASH FLOW - Fully leased to a diverse mix of national and regional tenants, delivering immediate in-place income with a WALT of approximately 8.8 years and strong tenant retention
STRATEGIC LOCATION WITH HIGH TRAFFIC & VISIBILITY - Positioned at a signalized intersection with over 40,000 VPD, offering excellent access, visibility, and connectivity within one of Concord’s primary retail corridors
IMMEDIATE VALUE-ADD OPPORTUNITY VIA OUTLET - High-performing outparcels offer immediate value add potential through leasing or monetization while enhancing income diversification
STRONG TENANT MIX DRIVEN BY DAILY-NEEDS & SERVICE RETAIL - Complementary mix of grocery, restaurant, and service-oriented tenants including McDonald’s, Dunkin’, and Pet Supplies Plus, driving consistent foot traffic and cross-shopping
LONG-TERM ANCHOR STABILITY WITH CONTRACTUAL RENT GROWTH - Sprouts Farmers Market lease extends through 2041, providing long-term income stability with embedded rent escalations and continued grocery anchored demand
AFFLUENT & HIGH-GROWTH TRADE AREA DEMOGRAPHICS - Supported by over 59,000 residents within a three mile radius and average household incomes exceeding $129,000, reinforcing strong long-term retail demand fundamentals
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Zoning
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Is there information that looks off?
