Overlook Village

• Overlook Village, a retail community center located in Ashville, North Carolina containing 153,820 square feet was purchased in December 2017 in partnership with a leading Nashville based operator partner
• The property was 80% occupied at purchase, yet possessed many attractive characteristics to drive value including concentrated vacancies with pre-close new tenant negotiations in place
• Anchored by TJ Maxx/HomeGoods and Ross and shadow-anchored by Whole Foods and strategically located less than 0.5 miles from Interstate 240, along a major thoroughfare within Ashville’s premier retail corridor
• Ashville provided strong barriers to entry given its mountainous topography and lack of available land for new development
• Successful re-tenanting and value-add improvements, along with strong tenant retention during the pandemic and new large lease executions, resulted in a successful sale of Overlook Village in July 2021 after three years and seven months of ownership