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Colonnade at Kings Grant
Investment salesNewsNorth Carolina

CenterSquare Acquires 21,265-Square-Foot Retail Property in Charlotte, North Carolina        

by Abby Cox

Charlotte, N.C. — Conshohocken, Pennsylvania-based CenterSquare has acquired Colonnade at Kings Grant, a 21,265-square-foot service retail property located in Charlotte. Tenants at the three-building center, which is fully leased, include Jimmy John’s, Sweet Frog and Original Mattress. CenterSquare plans to renovate the property with the inclusion of LED lights and patio seating, fresh paint, updated landscaping, parking lot seal coating, pylon sign enhancement and new roofs on all buildings. Colonnade at Kings Grant marks CenterSquare’s 60th acquisition nationally.

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Rolesville Town Center
Investment salesNewsNorth Carolina

Prudent Growth Sells Rolesville Town Center Near Raleigh, North Carolina, for $4.5 Million

by Abby Cox

Rolesville, N.C. — Chapel Hill, North Carolina-based Prudent Growth Partners has sold Rolesville Town Center, a 19,500-square-foot neighborhood shopping center located in Rolesville, a suburb of Raleigh. The property sold for $4.5 million. Tenants at the center include Megan Nails, Kruse Chiropractic, Black & White Coffee Roasters, Pizza Hut and Rolesville Equipment Co. Additional details of the transaction were not disclosed. Prudent originally purchased Rolesville Town Center in September 2021 for $3.1 million.

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The HoneyBaked Ham Co.
DevelopmentIowaMarylandNewsNorth CarolinaVirginia

HoneyBaked Ham Co. Signs Eight-Unit Franchise Agreement

by Abby Cox

Alpharetta, Ga. — Alpharetta, Georgia-based food retailer The Honey Baked Ham Co. has signed a franchise agreement with The Davis Restaurant Group to open eight new stores. The first store openings are planned for September 2026 in Bel Air, Maryland; Chesapeake, Virginia; and Des Moines, Iowa. In September 2027, additional HoneyBaked locations are projected for Chesapeake and Des Moines, as well as Mint Hill, North Carolina. Lastly, the expansion will continue into 2028, with more stores anticipated for Chesapeake and Waxhaw, North Carolina. Matt Davis of The Davis Restaurant Group, …

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Kris Krossing
Grocery-anchoredInvestment salesNewsNorth CarolinaSouth Carolina

IPA Arranges Sale of Five Food Lion-Anchored Shopping Centers Totaling 248,030 Square Feet

by Abby Cox

Raleigh, N.C. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of a five-property portfolio of Food Lion-anchored shopping centers totaling 248,030 square feet in the Carolinas. The properties include College Lakes Plaza in Fayetteville, North Carolina; Eden Centre in Eden, North Carolina; Kimberly Park in Carthage, North Carolina.; Kris Krossing in Conway, South Carolina; and West Pointe in Village Asheboro, North Carolina. Raleigh-based Genesis Properties purchased the portfolio from Richmond-based Capital Square for an undisclosed price. Dean Zang and David Crotts of IPA, …

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Westside Bottling
DevelopmentInvestment salesNewsNorth Carolina

Ardent Closes on Land Acquisition for Mixed-Use Project in Durham, Signs Leases with Sprouts and Shake Shack

by Abby Cox

Durham, N.C. — The Ardent Cos. has closed on the land acquisition for Westside Bottling, a mixed-use development located on the former Durham Coca-Cola Bottling Co. warehouse site in Durham. Ardent plans to break ground in August on the development, which will feature 70,000 square feet of retail space, 370 multifamily residences and 35 for-sale townhomes upon completion. Westside Bottling’s retail component is currently 70 percent preleased to tenants including Sprouts Farmers Market, Shake Shack, Ulta Beauty, Club Pilates, First Watch and Vernis Nail Salons. First Citizens Bank, which had an …

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Sprouts Farmers Market
FloridaGrocery-anchoredInvestment salesNewsNorth CarolinaSouth Carolina

Ram Realty Buys 600,000-Square-Foot Retail Portfolio for $200 Million 

by Abby Cox

Palm Beach Gardens, Fla. — Palm Beach Gardens, Florida-based Ram Realty Advisors has purchased a 600,000-square-foot retail portfolio of seven grocery-anchored shopping centers across the Southeast for $200 million. The portfolio includes Mainstreet at Midtown in Palm Beach Gardens, Florida; Homestead Market and Bull City Market in Durham, North Carolina; Holly Springs Crossing in Holly Springs, North Carolina; Mainstreet Village in Hilton Head Island, South Carolina; The Market at Mills Park in Orlando, Florida; and Blys in Oakland Park, Florida. The portfolio, which was 98.7 percent occupied at the time of …

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The Shoppes at Toringdon
Investment salesNewsNorth Carolina

Marcus & Millichap Brokers $4.2 Million Sale of Retail Center in Charlotte, North Carolina

by Abby Cox

Charlotte, N.C. — Marcus & Millichap has brokered the $4.2 million sale of the Shoppes at Toringdon, an 8,008-square-foot retail strip center located within the Toringdon Circle mixed-use development in Charlotte’s Ballantyne neighborhood. Situated at 12194 Johnston Road, the property was fully leased to T-Mobile, MyEyeDr. and Trek Bicycle at the time of sale. Built in 2013, the center is situated on 1.4 acres. David Gant and Lori Schneider of Marcus & Millichap represented the seller in the transaction. Donald Gilchrist served as Marcus & Millichap’s broker of record in …

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Crabtree Mall
MallsNewsNorth Carolina

Macerich Acquires Crabtree Valley Mall in Raleigh for $290 Million, Plans $60 Million Capital Improvement

by Abby Cox

Raleigh, N.C. — The Macerich Co. has acquired Crabtree Valley Mall, a Class A retail property totaling approximately 1.3 million square feet in Raleigh, for $290 million. The seller was CVM Holdings LLC, according to local news outlet WRAL. The largest mall in North Carolina’s Research Triangle area, Crabtree opened in 1972 and is home to more than 200 stores and restaurants. Anchor tenants at the property include Belk and Macy’s. Additional retailers include Apple, Banana Republic, Brahmin, Brooks Brothers, Build-A-Bear Workshop, Chubbies, Coach, H&M, The LEGO Store, Michael Kors, TAG …

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Spring Lake Town Center
Investment salesMississippiNewsNorth Carolina

Marcus & Millichap Arranges $6.8 Million Sale of Two Retail Properties Totaling 53,000 Square Feet

by Abby Cox

Spring Lake, N.C. and Jackson, Miss. — Marcus & Millichap has arranged the $6.8 million sale of two retail properties totaling 53,000 square feet in Spring Lake, North Carolina, and Jackson, Mississippi. Built in 2004, Spring Lake Town Center totals 29,841 square feet and was 85 percent leased at the time of sale. A Walmart Supercenter shadow anchors the property, which features a mix of additional tenants including Dollar Tree, AT&T, GameStop, Cricket Wireless, Cato, Papa Murphy’s and OneMain Financial. The second property, a 24,069-square-foot retail center located at 4882-4898 Highway …

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Wallace Crossings
FinanceInvestment salesNewsNorth Carolina

MMCC Arranges $3 Million Financing for Wallace Crossings Shopping Center in North Carolina

by Abby Cox

Wallace, N.C. — Marcus & Millichap Capital Corp. (MMCC) has arranged $3 million in financing for the acquisition of Wallace Crossings, a 66,000-square-foot shopping center located in Wallace. The 10-year loan includes a 6.3 percent interest rate with a 30-year amortization period and a 73 percent loan-to-value. Built in 1991, the center is anchored by U-Haul and Ollie’s Bargain Outlet. Additional tenants include Hardee’s, KFC, GoGas and a CashPoints ATM, according to LoopNet. Garrett Fierstein of MMCC secured financing with a local credit union on behalf of a private client.

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