Charlotte-based Cuadra Capital has expanded its retail and mixed-use holdings with the acquisition of approximately 250,000 square feet across North Carolina and Florida. The portfolio includes neighborhood shopping centers, a mixed-use district and an infill Jacksonville retail assemblage, with additional land purchases supporting parking, accessibility and future property improvements.
Key takeaways
- The acquisitions span four properties in Greensboro, Winston-Salem, Wilmington and Jacksonville.
- The portfolio includes retail, food-and-beverage, office, medical, wellness and light industrial uses.
- Cuadra acquired adjacent parcels at two North Carolina properties for parking and capital improvements.
- The firm plans to lease suites at the Jacksonville property to food-and-beverage operators.
Portfolio spans four markets
The acquisitions give Cuadra a presence in several established and growing commercial districts. The North Carolina assets include State Street Station in Greensboro, College Plaza in Winston-Salem and the Bottleworks District in Wilmington. Park & King, an infill street-retail assemblage in Jacksonville’s Riverside neighborhood, represents the portfolio’s Florida component.
Together, the properties offer a mix of stabilized retail operations and opportunities for targeted repositioning. Their tenant profiles are diversified across dining, services, healthcare, wellness, office and industrial uses.
State Street Station adds neighborhood retail scale
State Street Station is an eight-building neighborhood retail center totaling 60,977 square feet. Its tenant mix includes food-and-beverage businesses, service providers and medical and wellness operators, making the property a local-serving commercial hub.
Cuadra also purchased four parcels adjacent to the center from a local owner. The company plans to use the additional land to expand parking capacity and improve access around the property, potentially strengthening the center’s convenience for customers and tenants.
College Plaza positioned near major development
College Plaza is a 50,000-square-foot shopping center located across from The Grounds, a 100-acre mixed-use district under construction. The property includes local restaurants such as Jimmy the Greek and Elizabeth’s Pizza.
The acquisition also includes the neighboring parcel at 2730 University Parkway. Cuadra intends to make capital improvements there, positioning the center to benefit from nearby development and increased activity in the surrounding area.
Bottleworks District anchors Wilmington portfolio
The Bottleworks District consists of four properties totaling 100,000 square feet across three contiguous blocks. Its tenant base combines food-and-beverage, office and light industrial users, creating a mixed-use environment with a varied daily customer and employee population.
Current occupants include Hi-Wire Brewing, The Ibis, Cugina Forno and the YMCA. The combination of recreational, dining and business uses gives the district a distinct role within Wilmington’s commercial landscape.
Jacksonville asset offers leasing opportunity
Park & King is located in Jacksonville’s Riverside neighborhood, near the Avondale and Five Points districts. The infill street-retail assemblage is positioned in an established urban setting with access to nearby residential, dining and entertainment destinations.
Cuadra plans to lease suites to a range of food-and-beverage tenants. That strategy could add new dining options while reinforcing the property’s role as a neighborhood-oriented destination.