Suburban Cleveland-based DDR Corp. owns hundreds of shopping centers throughout the U.S. But when the retail giant bought Cotswold Village Shops in December 2011, it stepped slightly out of its comfort zone.
Another Charlotte-area bookstore is closing, this time at the Cotswold Village Shops. The store will be replaced by a Cost Plus World Market, a furniture, home decor, food, wine and gifts store.
Two Charlotte shopping centers centers, Cotswold Village and The Terraces at SouthPark, have been sold for $85 million. Greensboro-based Bell Partners said this week that it has sold the properties to DDR, a Beachwood, Ohio–based owner and manager of shopping centers. Bell said the sale reflects its focus on multifamily properties as opposed to retail, [...]