Overview
Colliers, as exclusive listing agent, is pleased to present Westgate Shopping Center — a 111,852 SF, generationally-significant retail asset at one of Asheville’s most frequented interstate segments. Currently 91% occupied, Westgate delivers a highly resilient income stream supported by a complementary mix of national anchors (Earth Fare, CVS, Great Clips, UPS, and Crumbl Cookies), daily-needs retailers, destination dining, and longstanding local operators. The lineup is further strengthened by a creditworthy license agreement with Tesla, creating durable cash flow and increasing site traffic and dwell time. This mix reflects the evolving consumer base in Asheville while maintaining the center’s position as one of the market’s most recognizable retail destinations.
Investment Highlights
GENERATIONAL REAL ESTATE
• Premier Interstate Location: Positioned at the intersection of I-240 and I-26—Asheville’s most critical transportation corridors—along the French Broad River in the heart of the MSA.
Well-Established Grocer
• Anchored by Earth Fare: The center features Earth Fare, a mission driven natural and organic grocer founded locally with deep Asheville roots. Founded as “Dinner for the Earth” in 1975, the brand has evolved into a trusted wellness supermarket chain.
RESILIENT INCOME PROFILE
• Flexible Multi-Building Layout: Two distinct buildings enable ownership to cater to a wide range of tenant types and merchandising strategies, enhancing leasing flexibility and long term asset performance.
• Diverse, Service-Oriented Tenant Mix: Inline tenants represent a strong mix of daily-needs and service uses designed to leverage the consistent grocery-driven customer traffic.
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