Colliers Brokers Sale of 111,852 SF Shopping Center in Asheville

Why this matters

The sale of Westgate Shopping Center in Asheville, brokered by Colliers, underscores ongoing institutional recalibration within the US retail sector. While the property’s vintage and tenant mix are not fully detailed, the transaction signals continued appetite for grocery-anchored and service-oriented retail assets that can offer defensive qualities amid broader sector headwinds. Asheville’s market fundamentals—characterized by a mix of local affluence and tourism—may be attracting capital seeking stable cash flow in secondary metros, where retail properties often trade at more attractive entry points than gateway cities. This deal also reflects evolving capital flows as institutional investors and lenders remain selective, favoring assets with creditworthy tenants and resilient demand drivers. The involvement of a national brokerage like Colliers suggests a level of market liquidity that contrasts with the more challenged segments of retail, particularly discretionary and mall-based formats. For allocators, the transaction highlights the nuanced bifurcation within retail real estate: while some subsectors face structural pressures, well-located neighborhood centers with essential services continue to draw interest, informing portfolio positioning and underwriting assumptions in a cautious lending environment.

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