Cohen & Steers REIT Buys Rock Hill Shopping Center Near Charlotte

Cohen & Steers Income Opportunities REIT, Inc. announced Monday the acquisition of Manchester Village, a community shopping center located in Rock Hill, South Carolina, within the broader Charlotte metropolitan area. The property was 99% occupied at the time of purchase, signaling strong tenant demand in the suburban market.

The transaction marks another retail real estate move by CNSREIT, a non-traded real estate investment trust managed by Cohen & Steers, a firm known for its focus on real assets and income-generating property portfolios. Rock Hill sits just south of Charlotte along a corridor that has seen sustained population and commercial growth in recent years.

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Community shopping centers anchored by everyday-needs tenants have drawn sustained investor interest as retail real estate continues to bifurcate between resilient neighborhood centers and struggling enclosed malls. A near-full occupancy rate at Manchester Village suggests the asset fits the profile of necessity-based retail that institutional investors have prioritized in the current environment.

Details on the acquisition price and specific tenant mix were not disclosed in the announcement. The deal reflects CNSREIT's ongoing strategy of deploying capital into stabilized, income-producing retail properties across high-growth U.S. markets.

Continue reading at Real Estate for additional details on the Manchester Village acquisition.