- CASTO Acquires Regency Village in North Carolina
- Wednesday, August 23, 2006
- CASTO's Carolinas Portfolio Tops 1.5 Million Square Feet
- Columbus, Ohio — CASTO, one of the country's leading real estate organizations, recently purchased Regency Village in the upscale area of Huntersville, North Carolina, adding 75,000 square feet of retail space to the company's retail portfolio in the Carolinas, which now totals 1.5 million square feet. Regency Village, located at the intersection of Highway 73 and Catawba Avenue in Huntersville, North Carolina, is a 75,000 square foot neighborhood shopping center that was completed earlier this year. It will be anchored by a 48,756 square foot Harris Teeter, the region's dominant upscale grocer, and will include 20,000 square feet of specialty shops, necessity retail and upscale casual restaurants. Phase II of the project will consist of another 6,000 square feet of shop space. Regency Village is well positioned to serve one of the fastest growing and most affluent areas in the Lake Norman area of the Charlotte region, with projections for the area to grow at an annual rate of 4.5% for the foreseeable future. Over 25,000 people live within three miles of the site and have average household incomes of $113,000. "We are very excited about the location of Regency Village and the high demographics surrounding the center," said Don M. Casto, III partner at CASTO. "We are confident that our experience in developing and managing grocery-anchored neighborhood centers through Ohio, North Carolina and Florida will make this center a success." Existing tenants include Ageless Remedy, Suncom, Casa Bella Salon & Spa, City Paw, Dry Cleaners Unlimited, Great Clips, Lee Nail, Ming Garden and Pack & Mail Plus. The center has a small town, Main Street feel and is arranged to respond to the convenience needs of today's busy shopper. On-street parking is available at each storefront, with over 350 total spaces available. The leasing and property management operations for Regency Village will operate out of CASTO's Charlotte office at 8929 J.M. Keynes Drive, Suite 315, Charlotte, North Carolina (phone 704.549.4811). CASTO's portfolio in the Carolinas totals more than 1.5 million square feet of retail space, including the ownership of Uniersity Commons in Burlington, Hanes Point in Winston-Salem, University Place in Charlotte, Morrison in Charlotte, Stone Creek Village in Cary and Renaissance Village in Durham. ABOUT CASTO CASTO, a fully integrated real estate organization since 1926, is a recognized leader in the ownership, management, acquisition and development of commercial shopping centers and multi-family residences, office buildings and corporate parks. CASTO's growing portfolio currently includes over 20 million square feet of commercial property and nearly 5,000 residential units located primarily throughout the midwestern and southeastern United States. CASTO Lifestyle Properties, an affilliate company of CASTO, is based in Sarasota, Florida and focuses on the development of mixed-use lifestyle centers. To learn more about CASTO and its properties, call 614.228.5331 or visit www.castoinfo.com.
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