Carolina Pavilion to add Sierra, Academy Sports, Ulta Beauty stores

Carolina Pavilion is shaking up its tenant mix with three new retailers: Sierra, Academy Sports & Outdoors and Ulta Beauty. All are slated to open in 2025.

Those deals come as the south Charlotte shopping center was acquired by Florida-based real estate investor CTO Realty Growth Inc. for $94 million. The deal includes 700,529 square feet of retail space that is nearly fully leased at 9541 South Blvd.

Wyoming-based Sierra has signed a 10-year lease deal for a 19,928-square-foot space. Charlotte Ledger was first to report the retailer’s plans.

“Our real estate strategy is very opportunistic. Basically we call ourselves the active and outdoor TJ Maxx,” says Elisa Pouliot, associate vice president.

That outdoor-focused concept is new to the market and offers everything from hiking boots to outdoor gear from kayaks to binoculars — at prices 20% to 60% lower than department or specialty stores. Pouliot says the brand’s customer base is value-conscious consumers that like to get outdoors.

“Every day you’ll find value on those top outdoor brands,” she says.

This will be Sierra’s first store in North Carolina, and part of efforts to move the brand South. It has 103 stores in 30 states. Sierra is part of Fortune 100 company TJX Cos. Inc. (NYSE: TJX). It operates TJ Maxx, Marshalls, HomeGoods and Homesense in the United States.

Ulta Beauty Inc. (NASDAQ: ULTA) will occupy 10,613 square feet at the center. It offers top brands in makeup, skin, hair care and more.

That concept and Sierra will split the former BuyBuy Baby space.

Academy Sports + Outdoors is taking 56,183 square feet — space that spanned Bed Bath & Beyond and the Cost Plus World Market. The Texas-based sporting goods chain offers footwear, apparel, golf equipment, team sports products along with hunting, fishing and camping supplies and equipment.

This will be the retailer’s seventh store in the Charlotte market.

Molly Prince Sarn with The Shopping Center Group represented the landlord on the Academy Sports, Sierra and Ulta deals.

Melissa McDonald with the Providence Group represented Sierra and Ulta. Dale Hall with New South Properties represented Academy Sports.

Additional tenants at the shopping center include Target, Nordstrom Rack, Ross and Old Navy. It’s 100% leased at this time, but the center is home to Big Lots and Conn’s — both of which have announced store closings recently. Their stores at Carolina Pavilion are among those to close.

The Conn’s store is 42,375 square feet and the Big Lots location is 33,684 square feet, according to a property flyer for the shopping center.

View the full article here.