Black Oak plans renovation of Hicone Shopping Center in Greensboro
February 3, 2016
GREENSBORO — The owners of the Hicone Shopping Center, Black Oak, is planning a $1 million renovation of the shopping center. The company will completely overhaul the building's facade while adding a a full parking lot overlay and new sidewalks. Anchored by Food Lion, CVS and Country Kitchen, the center is currently 87 percent leased and has additional pad acreage available for future development. The Baltimore-based real estate investment firm purchased the center, located at the intersection of Hicone Road and Rankin Mill Road in downtown Greensboro in North Carolina, in late 2013. Black Oak has selected the contractor HICAPS, which is expected to begin work in March. Completion is scheduled for July 2016.
“Black Oak has a long history of owning shopping centers and repositioning projects to meet the changing needs of the local community,” stated Dara Hewat, a partner with Black Oak. “Hicone was constructed approximately twenty five years ago, and these improvements are intended to upgrade the center into a first class retail property to position it to serve the existing community and the new residents anticipated to arrive during the next twenty five years".