- CASTO Acquires Coddle Creek Market in North Carolina
- Wednesday, March 21, 2007
- Shopping center located in Concord, one of Charlotte's fastest growing suburbs
- Columbus, OH — CASTO, one of the country's leading real estate organizations, recently purchased Coddle Creek Market in the northeast area of Charlotte, North Carolina, adding 79,720 square feet of retail space to the company's growing retail portfolio in the Carolinas, which now totals more than 1.5 million square feet. Coddle Creek Market, located at the northwest corner of George W. Liles Parkway and Poplar Tent Road in Concord, is a 79,720 square foot neighborhood shopping center that opened in 2004. It is anchored by a 48,824 square foot Harris Teeter, the region's dominant upscale grocer, and includes 30,896 square feet of necessity retail, upscale casual restaurants and office tenants. "Coddle Creek is an excellent addition to our growing portfolio in the Carolinas," said Don M. Casto, III, partner at CASTO. "Its central location to everything Charlotte has to offer, coupled with the outstanding daytime and evening populations make this center a perfect location for retailers who are looking for a presence in this growing market." Coddle Creek Market is strategically situated close to major employment centers, which include the University of North Carolina at Charlotte, The University Research Park and University Hospital. More than 23,000 people live within three miles of the site and have average household incomes of $79,199. In addition to easy interstate access, the shopping center is also located near Lowe's Motor Speedway, Lake Norman and Verizon Amphitheater. Existing tenants include Allstate Insurance, Butterfly Life, Callista Salon and Spa, Carriage Cleaners, Dynasty Chinese Restaurant, Eloquent Nails, Future Cellular, Great Clips, Maya Tan, Post Net, Bio-M-Pos, Dilworth Coffeehouse, Math Smart, KidzRock Fitness and Re/Max-Leading Edge. 4,500 square feet of retail/office space is available for lease and more than 300 parking spaces are available onsite. The leasing and property management operations for Coddle Creek Market will operate out of CASTO's Charlotte office at 8929 J.M. Keynes Drive., Suite 315, Charlotte, NC 28262, (704)549-4811. CASTO's portfolio in the Carolinas totals more than 1.5 million square feet of retail space, including the ownership of University Commons in Burlington, Hanes Point in Winston-Salem, University Place in Charlotte, Morrison in Charlotte, Regency Village in Charlotte, Stone Creek Village Phase I in Cary, Renaissance Village in Durham, and Red Robin and Lone Star Steakhouse at Indigo Corners in Durham. ABOUT CASTO CASTO, a fully integrated real estate organization since 1926, is a recognized leader in the ownership, management, acquistion 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 4,500 residential units located primarily throughout the midwestern and southeastern United States. Casto Lifestyle Properties, an affiliate 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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