A New York-based retail REIT has written an eight-figure check for one of northeast Greensboro's neighborhood hubs, picking up Gunters Crossing, the Lowe's Foods-anchored shopping center on North Church Street, for about $11 million. The single-story center runs roughly 55,000 square feet, pairing a full-service grocery anchor with a row of smaller storefronts. The seller, Barnett Properties, is cashing out of the asset as it leans harder into development projects around the region.
Deal details
According to Triad Business Journal, ShopOne Centers, the New York retail REIT now operating under Town Lane's platform, closed on Gunters Crossing for approximately $11 million. The report identifies Barnett Properties as the seller and pegs the center at about 55,363 square feet. The piece, written by Lilly Egan, was published March 10.
New owner, same playbook
In February, Town Lane announced that it had acquired ShopOne Centers and its 27-asset, grocery-anchored portfolio, positioning the firm to keep stacking up similar neighborhood centers. The announcement ran on Business Wire. Industry coverage in Bisnow notes the new ownership has been scooping up midsized grocery centers across the Triangle and nearby markets, suggesting Gunters Crossing is very much on-brand for the portfolio.
About Gunters Crossing
Gunters Crossing is a neighborhood, grocery-anchored plaza that opened in 2010, with a Lowe's Foods anchor taking roughly 42,500 square feet and about 13,253 square feet of shop space, according to local developer profiles. Barnett Properties lists the center at approximately 55,363 square feet and describes it as a Lowe's-anchored neighborhood center. Brown Investment Properties places the property at 5854 N. Church St. and notes it previously changed hands in 2016.
Retail market backdrop
Investors have been gravitating toward grocery-anchored centers because steady foot traffic and necessity retail tend to keep income streams calm, even when other segments of retail get choppy. Bisnow reported that retail vacancies in the greater Raleigh-Durham area were roughly 2.4% in Q4 2025, a tight market that helps lift demand for well-located grocery plazas. For Greensboro tenants, a new landlord usually means gradual capital improvements and lease housekeeping rather than an overnight transformation.
What comes next
Triad Business Journal reports that Barnett sold the center as it pivots back toward development work and land plays in the region, and notes that company representatives did not immediately respond to requests for comment. For now, tenants and shoppers at Gunters Crossing should expect business as usual while the new owner studies the asset and decides where modest upgrades or lease resets might make the most sense.
