Key Takeaways
- • Hines, a Houston-based real estate firm with $91.8 billion in assets under management, acquired Birkdale Village in Huntersville, North Carolina for $274.4 million from a joint venture partnership of Nuveen and Jamestown.
- • The 673,000-square-foot mixed-use asset features 255,000 square feet of retail space (99% leased) anchored by premium tenants including Apple, lululemon, Williams Sonoma, Warby Parker, and Pottery Barn, plus 320 multifamily residential units (97% leased).
- • Birkdale Village's strong occupancy metrics and accessible location serving the Lake Norman and Greater Charlotte metropolitan area underscore the property's strategic value as a lifestyle-focused mixed-use destination with both retail and residential income streams.
- • The transaction represents a significant capital deployment for Hines' portfolio expansion in the Southeast market, leveraging the firm's institutional scale and operational expertise across 30 countries with 4,600 employees.
Summary
Hines completed its acquisition of Birkdale Village on October 22, 2025, purchasing the 673,000-square-foot mixed-use open-air center in Huntersville, North Carolina for $274.4 million. The property was sold by Atlanta-based Jamestown and Chicago-headquartered Nuveen, which held the asset as a joint venture. Newmark's Conor Lalor represented the seller, while Paul Zarian and Jesse Amundson led the transaction for Hines.
The asset demonstrates strong operational fundamentals. Retail occupancy stands at 99% across 255,000 square feet of leased space, with a tenant roster including marquee names such as Apple, lululemon, Williams Sonoma, Warby Parker, Pottery Barn, North Italia, Sweetgreen, Kendra Scott, Arhaus, and Lilly Pulitzer. The residential component consists of 320 multifamily units—comprising one-, two-, and three-bedroom floor plans—achieving 97% occupancy and positioned directly above the retail offerings, creating an integrated mixed-use lifestyle environment.
The acquisition aligns with Hines' broader real estate platform, which operates $91.8 billion in property across 30 countries with a workforce of 4,600 employees. Birkdale Village's highly accessible location, supported by convenient highway connectivity, positions it as a premier retail and residential destination serving the Lake Norman and Greater Charlotte regional markets. The property's dual-income structure—combining essential retail anchors with consistent multifamily cash flow—enhances portfolio diversification for the institutional investor base.
The asset demonstrates strong operational fundamentals. Retail occupancy stands at 99% across 255,000 square feet of leased space, with a tenant roster including marquee names such as Apple, lululemon, Williams Sonoma, Warby Parker, Pottery Barn, North Italia, Sweetgreen, Kendra Scott, Arhaus, and Lilly Pulitzer. The residential component consists of 320 multifamily units—comprising one-, two-, and three-bedroom floor plans—achieving 97% occupancy and positioned directly above the retail offerings, creating an integrated mixed-use lifestyle environment.
The acquisition aligns with Hines' broader real estate platform, which operates $91.8 billion in property across 30 countries with a workforce of 4,600 employees. Birkdale Village's highly accessible location, supported by convenient highway connectivity, positions it as a premier retail and residential destination serving the Lake Norman and Greater Charlotte regional markets. The property's dual-income structure—combining essential retail anchors with consistent multifamily cash flow—enhances portfolio diversification for the institutional investor base.
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