Hines Acquires Birkdale Village Huntersville for $274.4M

Birkdale Village, a popular mixed-use retail and residential center in Huntersville, North Carolina, has been sold again, this time to Houston-based global real estate investment firm Hines for $274.4 million. The 673,000-square-foot property is highly leased, with 99% of its retail space and 97% of its 320 residential units occupied, featuring prominent tenants such as Apple, lululemon, and Pottery Barn. The sale transfers ownership from a joint venture of Atlanta-based Jamestown and Nuveen, who had previously conducted extensive renovations and secured a controversial rezoning approval for expansion plans including a boutique hotel and additional development. Local residents have expressed concerns about increased density, parking, and safety issues related to the proposed expansion, fearing it may alter the character of Birkdale Village. Hines, which manages a portfolio valued at approximately $92 billion and employs 4,600 people globally, plans to integrate Birkdale Village into its U.S. Sunbelt portfolio, with leadership by Paul Zarian and Jesse Amundson. Construction on the approved expansion has not yet commenced under the new ownership.