10 Federal Enters Retail With Burlington Acquisition

10 Federal has entered the retail property sector through the acquisition of Eric Lane Shopping Center in Burlington, North Carolina. The technology-driven real estate owner and operator is applying capabilities developed through its self-storage platform to an adjacent commercial real estate segment. The centre comprises approximately 219,850 square feet across nearly 25 acres at the I-40/I-85 interchange. The move builds on 10 Federal’s experience in retail shopping-centre acquisitions, while marking a new phase of growth for the business.

Retail Expansion Begins

Eric Lane Shopping Center is located at 2401 Eric Lane in Burlington, North Carolina. The acquisition gives 10 Federal a retail foothold while extending its property investment activity beyond self-storage.

The company manages over 133 properties across 16 states, with a portfolio focused on fully automated self-storage facilities.

Experience Across Asset Classes

10 Federal expects to continue raising capital and pursuing opportunities in retail and other adjacent sectors over the coming year.

Ian Levin, Vice President of Investments at 10 Federal, said:

“This strategy is highly complementary to our business, and we see it becoming an important growth engine for 10 Federal. It allows us to apply the experience we've gained over the past 15 years to a complementary asset class while pursuing opportunities that fit naturally within our business.”

A Broader Property Strategy

The Burlington acquisition reflects 10 Federal’s intention to extend its data-driven operating model into related real estate categories. Its entry into retail is supported by prior experience acquiring shopping centres dating back to the company’s inception.