Grove Arcade

Grove Arcade is a +/- 148,169 square foot historic mixed-use landmark occupying a full city block in the heart of downtown Asheville, NC. Completed in 1929, the building brings together 35 street level retail and restaurant tenants across roughly 50,000 square feet, approximately 31,730 square feet of upper floor office space, and 42 residential apartments.

CC’s investment objective was to acquire an irreplaceable, well-located asset with an in-place, diverse tenant mix in one of the Southeast’s strongest tourism and lifestyle markets. The property was acquired well below replacement cost and carries three distinct income streams across retail, office, and residential. Furthermore, Grove Arcade anchors downtown Asheville and draws steady foot traffic from residents and visitors year round.

CC plans to hold the asset as part of their street retail and stabilized income portfolio

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