Thompson Thrift Retail Group Sells Fully Leased Multi-Tenant Retail Building Near Charlotte

CHARLOTTE, N.C., May 27, 2021 /PRNewswire/ -- Thompson Thrift Retail Group (TTRG), a wholly-owned company of Indianapolis-based Thompson Thrift, announced today the sale of an 11,000-square-foot multi-tenant building in Concord to a private buyer from California.

The building is the second of four lots to be developed within TTRG's 7.45-acre Shops on Derita, a retail development located at Derita Road and Carolina Lily Lane. The fully leased building features Supercuts, Smoothie King, Chicago's Pizza with a Twist, Wingstop and Cinnaholic.

"Shops on Derita is situated in an extremely strong retail corridor in an area that continues to grow," said Ryan Menard, vice president of development for Thompson Thrift Retail Group. "This site has maintained momentum through 2020 and the latest sale demonstrates a return of confidence in multi-tenant retail as we emerge from the pandemic." 

Biscuitville Fresh Southern® recently opened a new location on the .72-acre parcel TTRG sold last year, and TTRG expects the two remaining lots to be sold during the third quarter.

TTRG also owns Christenbury Corners, the 130,000-square-foot Kohl's-anchored shopping center that is adjacent to Shops on Derita.

TTRG is a full-service real estate development company focused on ground-up commercial and mixed-use development across the Midwest, Southeast and Southwest. During the past 30+ years, Thompson Thrift has invested more than $2.2 billion into local communities and has become known as a trusted partner committed to developing high-quality, attractive retail and multifamily projects.

David Hoppe, with Atlantic Capital Partners represented TTRG on the sale of the building.

About Thompson Thrift Real Estate Company
Thompson Thrift is an integrated full-service real estate company with offices in Indianapolis and Terre Haute, Ind., Houston, and Phoenix. Three business units drive Thompson Thrift's success— Watermark Residential which is focused on Class A multifamily communities and luxury leased homes, upscale townhome-style living; Thompson Thrift Retail Group which is focused on ground-up commercial development; and Thompson Thrift Construction, a full-service construction company. Through these business units, Thompson Thrift's over 400 employees are engaged in all aspects of acquisition, development, construction, leasing, and management of quality multifamily, mixed-use, retail and office projects across the country. We are passionate about our customers' success and strive to ensure our projects not only meet the needs of our customers but also the communities we serve. For more information, please visit www.thompsonthrift.com.

Contact:                
Jennifer Franklin                                 
Spotlight Marketing Communications
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jennifer@spotlightmarcom.com

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SOURCE Thompson Thrift