Markets at Cedar Ridge is now a bustling ?little? shopping center with an unusual cast of tenants, including a long-time Charlotte staple soul food restaurant and a Mexican grocery. But like many centers catering to the entrepreneurial business, it's had its dark moments in recent history, Legacy Real Estate Advisors? Dave Morris (who prefers to read upside down) told us this week. The 28k SF market at South Tryon Street and Arrowood Road faced hard times in '09. The owners of its anchor tenant, an 18k SF Peak Fitness gym, went bankrupt. That left a huge crater, prompting other tenants to bail. Since then, Family Dollar, which is on the grow, agreed to take about 8,000 SF in the main building. That spurred new tenants, including Family Two Dollar Bill Mexican grocery store La Hidalguense and La'Wan's Soul Food. Center owner, Athens-Ga.-based The Dovetail Co, also agreed to a bunch of concessions, including free rent and considerable TI discounts. Rental rates at Markets at Cedar Ridge average about $19.50/SF. |
OUT OF THE FLAME, A PHOENIX
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Related Topics:
Arrowood Road
, Cedar Ridge
, Dave Morris
, Family Dollar
, Legacy Real Estate Advisors
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