CHARLOTTE, N.C. — Octave Holdings and Investments LLC has purchased Belgate Shopping Center, a 269,253-square-foot power retail center in Charlotte’s University district. The Alpharetta, Ga.-based buyer’s investment fund, Octave Realty Fund IX LLC, acquired the center for an undisclosed price. The seller was also not disclosed.
Located at the intersection of North Tryon Street and University City Boulevard, Belgate Shopping Center is situated within one mile of University of North Carolina – Charlotte, as well as near North Carolina’s only IKEA store. The property was fully leased at the time of sale to tenants including Hobby Lobby, T.J. Maxx, Burlington, Marshalls, PetSmart, Old Navy, Shoe Carnival and Ulta Beauty. Shadow anchors of the center include Topgolf and Walmart Supercenter.
Octave’s in-house property management company, Pinnacle Leasing and Management, will operate Belgate Shopping Center.