Cohen & Steers REIT Buys 268,000-SF Charlotte-Area Shopping Center 97% Leased
Cohen & Steers Income Opportunities REIT acquired a 268,000-square-foot shopping center in Mooresville, North Carolina, through a programmatic joint venture with Sterling Organization. Winslow Bay Commons is 97% leased, shadow-anchored by Target with T.J. Maxx, HomeGoods, Dick’s Sporting Goods and Ross, in a market with 2% annual population growth.
1. Acquisition Details
Cohen & Steers Income Opportunities REIT acquired Winslow Bay Commons, a 268,000 square foot open-air shopping center in Mooresville, North Carolina, through a programmatic joint venture with Sterling Organization. The property is 97% leased and shadow-anchored by Target.
2. Strategic Rationale and Market Context
The center features leading retail tenants including T.J. Maxx, HomeGoods, Dick’s Sporting Goods and Ross Dress for Less. Located in the I-77 corridor, the asset taps into Charlotte metro’s 2% annual population growth and Mooresville’s 53% growth over the past decade, supporting long-term income potential.