Raleigh, N.C. — Broad Reach Retail Partners LLC, a value-add owner and operator of retail centers, has acquired Avent Ferry Shopping Center in Raleigh. The sales price and seller were not disclosed, but Triangle Business Journal reports Weingarten Realty Investors sold the asset for $15.8 million after nearly 20 years of ownership. Anchored by Food Lion, the 119,652-square-foot shopping center is located within walking distance to North Carolina State University and just three miles from downtown Raleigh. Avent Ferry was 87 percent leased at the time of sale to tenants such as Walgreens, Family Dollar, the North Carolina DMV, Hardee’s, Circle K and Wingstop.
Broad Reach Retail Partners Acquires Avent Ferry Shopping Center in Raleigh for $15.8 Million