Big V Property Group Completes $21.4M Refinancing of Net-Leased Tenants at Four Properties

The diverse group BJ’s Brewhouse, Hobby Lobby, Starbuck’s, T-Mobile, Skechers Outlet and more at centers including Harbison Court, above. Photo credit: Big V Property Group.

CHARLOTTE, N.C. (September 3, 2025) —Big V Property Group, a leading owner, operator, and developer of premier retail properties in high-growth Sunbelt markets, has successfully completed a $21.4 million refinancing for a diversified group of net-leased tenants, all a part of shadow anchored centers in the Big V Portfolio in the southern United States.

The properties are part of the Big V Income Fund, a nine-asset portfolio focused on generating stable, long-term cash flow through net-leased retail investments. The new financing package, secured through a regional bank, provides a sub-6% interest rate on-balance sheet, reinforcing the strength of the fund’s asset quality and tenant mix. All assets in the transaction are net-leased (NNN) to creditworthy, long-term tenants, providing predictable income and minimal landlord responsibilities.

“We’re pleased to have secured favorable terms in today’s attractive interest rate environment, which underscores the confidence our lending partners have in our assets and strategy,” said Bryan Kallenberg, Vice President of Capital Markets. This refinancing reflects the ongoing strength of the Big V Income Fund’s net lease portfolio.”

The properties are the ground leases at:

Alamo Ranch in San Antonio, Texas, comprising Wendy’s (2,675 square feet); Las Palapas (3,500 square feet); Jason’s Deli (5,315 square feet); BJ’s Brewhouse (9,00) square feet and a 9,000-square foot building housing Starbuck’s, European Wax and T-Mobile.
Westside Center in Huntsville, Ala., for an 11,839-square-foot outparcel housing a Skechers Outlet and Vitamin Shoppe.
The 55,550-square-foot Hobby Lobby at Harbison Court, in Columbia, S.C.
And two pads at Spradlin Farms, Christiansburg, Va., housing a 3,998-square-foot Truist Bank and 3,000-square-foot Seven Brew.

The nine properties in the Big V Income Fund are all highly visited centers, and shadowed by notable anchored tenants which include, Target, Marshalls, TJMaxx, Burlington, Ross, Ulta, and others. Big V Property Group remains focused on acquiring and managing high-performing retail centers in vibrant Sunbelt markets, characterized by robust demographics, consistent foot traffic, and long-term economic growth.

About Big V Property Group
Big V Property Group (Big V) is a family-owned leader in retail real estate with an 80-year history of serving communities and creating superior value for investors. We own, operate, and develop premier retail properties in growing and thriving Sunbelt communities across 14 states. Our 50+ neighborhood community and shopping centers are at the heart of retail districts in high-growth demographic markets, occupying a total of 9.5 million square feet. This careful selection has led to record-high occupancy rates, as our prime locations drive significant business for our tenants, enhance returns for investors, and support vibrant community activity. We are headquartered in Charlotte, NC with major offices in Murfreesboro, TN, San Antonio and Austin, TX, and Florida, NY. For further information, please visit bigv.com.

For media inquiries, please contact:
Debra Hazel
(201) 618-5247
debra@debrahazelcommunications.com

The bookseller has taken locations for its smaller format stores at Alamo Ranch, above, as well as The Avenue Murfreesboro and Southpark Meadows.

CHARLOTTE, N.C. (July 21, 2025) — The recent addition of three Barnes & Noble stores to Big V Property Group’s portfolio is not just evidence of the rebirth of the iconic bookseller, it also is a testament to the two companies’ relationship and the importance of adaptive reuse of existing space, the developer said.

All of the new Barnes & Noble stores — at Alamo Ranch in San Antonio and Southpark Meadows in Austin, both in Texas, and The Shoppes at Woodhill in Columbia, S.C. — were previously home to other retailers and were reconceived and remodeled to accommodate the retailer’s new, smaller format. Barnes & Noble also has a location at The Avenue Murfreesboro near Nashville in a lease signed prior to Big V Property Group’s acquisition of the center in 2020.

“Watching the reinvention and reinvigoration of Barnes & Noble shows the continued strength of brick-and-mortar retail, and it is now a critical component of our tenant mixes,” said Greg Ix, Executive Vice President of Leasing at Big V Property Group. “Small, independent booksellers are a vital part of retail, but there really is only one Barnes & Noble. We are happy to have leased nearly 75,000 square feet and reinvented rare vacant spaces to accommodate them and look forward to continuing our strong relationship.”

“It’s thrilling to see Barnes & Noble expanding again, with plans to open some 60 new stores nationwide in 2025,” said Julie O’Donnell, Big V Property Group Executive Director of Leasing. “Seeing a legacy brand reinvent themselves to adapt as an experience-led, traffic driver retailer, is exciting for all of our tenants, and Austin, San Antonio and Columbia, S.C. have been a perfect fit for them.”

Barnes & Noble’s 20,004-square-foot store replaces an Office Max at Southpark Meadows, home to dining, local, and regional retailers as well as Music Meadows, an outdoor communal area that hosts a variety of events all year long. Other anchors are Walmart, Super Target, Petsmart, Ulta Beauty, Old Navy, JCPenny, Marshalls, Hobby Lobby, Ross, Best Buy and HomeGoods. The center is located on Interstate 35, Austin’s primary North-South thoroughfare.

One of the largest and most prominent open-air centers in San Antonio, Alamo Ranch’s 900,000 square feet are anchored by Best Buy, Dick’s, Ross Dress for Less, Marshalls, Michael’s, Ulta, PetSmart, Super Target, Lowe’s, and JCPenney. Barnes & Noble’s 17,996 square feet also replaces an Office Max at the center, located on 1604, one of the city’s busiest vehicular arteries.

Big V Property Group re-leased a 25,000-square-foot former Bed Bath & Beyond at The Shoppes at Woodhill to Barnes & Noble prior to selling the center in December 2024.

“We’re proud of our flexibility to help major tenants find new locations in thriving markets such as Austin and San Antonio,” said Pat Kelly, Vice President of Leasing. “But Barnes & Noble deserves serious credit for developing a smaller, community-centric prototype that allows it to take locations of 20,000 square feet or so and serve new markets. It’s a tribute to smart retailing.”

All three stores are now open.

For media inquiries, please contact:
Debra Hazel
(201) 618-5247
debra@debrahazelcommunications.com