Charlotte-based Cuadra Capital has acquired a portfolio of retail and mixed-use properties totaling approximately 250,000 square feet in North Carolina and Florida. The purchases span neighborhood shopping centers, a mixed-use district and an infill retail assemblage, strengthening the firm’s presence in Greensboro, Winston-Salem, Wilmington and Jacksonville.
Key takeaways
- The portfolio includes four acquisitions across North Carolina and Florida.
- Assets feature retail, food-and-beverage, medical, wellness, office and light industrial tenants.
- Cuadra plans parking, accessibility and broader capital improvements at select properties.
- The firm intends to lease additional space to food-and-beverage operators in Jacksonville.
Portfolio spans four commercial properties
The North Carolina acquisitions include State Street Station in Greensboro, College Plaza in Winston-Salem and the Bottleworks District in Wilmington. The Florida property, Park & King, is located in Jacksonville’s Riverside neighborhood, near the Avondale and Five Points districts.
Together, the acquisitions give Cuadra a mix of established neighborhood retail and larger mixed-use assets positioned in active commercial areas. The properties are occupied by a combination of local and regional businesses, including restaurants, service providers, medical and wellness users, office tenants and light industrial operators.
State Street Station adds retail and expansion potential
State Street Station is an approximately 61,000-square-foot neighborhood retail center comprising eight buildings. Its tenant mix includes food-and-beverage, service, medical and wellness businesses, providing a diversified base of everyday-use retailers.
Cuadra also acquired four adjacent parcels from a local owner. The additional land is expected to support expanded parking capacity and improved access around the shopping center, potentially enhancing the property’s convenience for customers and tenants.
College Plaza positioned near major development
The 50,000-square-foot College Plaza in Winston-Salem is located across from The Grounds, a 100-acre mixed-use district currently under construction. The center includes local operators such as Jimmy the Greek and Elizabeth’s Pizza.
As part of the transaction, Cuadra purchased an adjacent parcel at 2730 University Parkway. The firm plans to make capital improvements at the property, while the nearby mixed-use development could increase traffic and visibility around the shopping center over time.
Bottleworks brings mixed-use scale to Wilmington
The Bottleworks District consists of four properties totaling 100,000 square feet across three contiguous blocks in Wilmington. Its tenant roster includes food-and-beverage, office and light industrial users, such as Hi-Wire Brewing, The Ibis, Cugina Forno and the YMCA.
The acquisition adds a sizable, diversified mixed-use component to Cuadra’s portfolio. The district’s combination of operating businesses and multiple property types may provide the firm with opportunities to improve the assets while preserving their existing commercial character.
Park & King targets Jacksonville’s dining market
Park & King is an infill street-retail assemblage in Jacksonville’s Riverside neighborhood, an area adjacent to Avondale and near Five Points. Cuadra plans to lease suites to a range of food-and-beverage tenants.
That strategy could add new dining options to an established urban neighborhood while helping the firm build a focused hospitality and restaurant presence in the Jacksonville market. The acquisition also broadens Cuadra’s geographic reach beyond its North Carolina base.
- Cuadra Capital Acquires 250,000 Square Feet of Retail, Mixed-Use Developments in North Carolina, Florida, Shopping Center Business.