PITTSBURGH, Nov. 14, 2016 /PRNewswire/ -- ECHO Realty announced today that it had acquired 2 Harris Teeter-anchored shopping centers in Charlotte, NC. The first property, Regency Village, is a 70,000 square foot center located in the Lake Norman community of Huntersville. The second property, Coddle Creek, is an 80,000 square foot center located in Concord.
The November acquisition brings ECHO Realty's presence in North Carolina to six grocery-anchored properties, four of which are located in the Charlotte market. ECHO entered Charlotte in 2015 with the purchase of The Village at Byers Creek in Mooresville and The Shoppes at Highland Creek in Charlotte. "We are pleased that we can expand ECHO's presence in the Charlotte market which has been an area of focus for us over the past few years," said Thomas Karet, Chief Executive Officer of ECHO.
These recent high-quality, grocery-anchored, shopping center purchases are part of a portfolio growth strategy for ECHO to expand and diversify its asset base. "The acquisition of these two centers is consistent with ECHO's philosophy of acquiring best-in-class centers anchored by market leading grocers in growing areas," said Drew Gorman, Senior Vice President of Acquisition and Development for ECHO.
ECHO Realty is a privately held developer, owner, and operator of commercial real estate headquartered in Pittsburgh, PA, with offices in Washington, DC and Indianapolis, IN. ECHO's portfolio consists of 225 properties located in Mid-Atlantic, Southeast, and Midwest markets. ECHO's services include development and construction management, property management, leasing and brokerage (operating as ECHO Retail) and partnership administration. For more information about ECHO Realty, please visit www.echorealty.com.
SOURCE ECHO Realty