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GBT Realty closes on $5 million center


Fayetteville, N.C. -- GBT Realty Corporation announced that it has closed on The Shoppes of Fayetteville, a 15-acre site, located in Fayetteville, North Carolina, for $5 million. The 126,500-sq.-ft. center is in the midst of a $25 million redevelopment scheduled to be completed in summer 2016.

The Shoppes of Fayetteville is anchored by a 63,000 sq. ft. Academy Sports + Outdoors and a 50,000 sq. ft. Burlington Coat Factory – both first-to-market stores. It also features local and regional shops, services and restaurants.

The center is located in a primary retail corridor of Fayetteville, which serves as the regional hub for shops, restaurants, services, lodging, health care and entertainment. Boasting the second highest per capita income in the state, the city is a draw for employees of nearby Fort Bragg and Pope Air Base, which collectively contribute approximately $4.5 billion annually to the region’s economy.

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