Algenon Cash, managing director of Wharton Gladden & Company, is pleased to announce the acquisition of a 101,312-square-foot retail center anchored by Lowe’s Foods in Hickory, North Carolina. The transaction, valued at $18.6 million, showcases Wharton Gladden’s expertise in acquiring and structuring deals for high-quality commercial assets in strategic markets.

The acquisition was financed through a $14.9 million CMBS loan, with an additional $3.7 million in equity raised through a joint venture partnership with the center’s operator. This sophisticated financing structure highlights Wharton Gladden’s ability to align capital solutions with long-term investment objectives.

“This acquisition represents a significant milestone for our team,” said Cash. “Retail centers anchored by grocery stores like Lowe’s Foods are among the most stable and recession-resistant assets in commercial real estate. With strong tenant demand and Hickory’s growing economic fundamentals, we anticipate this property will generate steady returns for our investors and continued value for the local community.”

The retail center is strategically located in a high-growth area of Hickory, benefiting from strong consumer traffic driven by Lowe’s Foods and a complementary mix of tenants. Its position within a thriving regional market underscores the property’s potential for long-term success.

Wharton Gladden’s approach focuses on acquiring stabilized assets that deliver immediate cash flow while leveraging operational efficiencies to maximize returns. The joint venture partnership with the operator ensures expert management and strategic value-add opportunities to enhance the property’s performance.

“This retail center is a testament to the strength of grocery-anchored properties in today’s market,” added Cash. “By combining our expertise in deal structuring and market analysis, we’re confident this acquisition will generate exceptional returns and align with our strategy of delivering high-performing, low-risk assets to our investors.”

With a robust market presence and continued commitment to strategic growth, Wharton Gladden & Company remains at the forefront of sourcing and managing premier commercial assets across the Southeast.