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Charlotte, NC

CHARLOTTE, N.C. (May 27, 2021) – 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.

“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.”