Friday, November 15, 2024
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Freedom Town Center
Investment salesNewsNorth Carolina

SRS Arranges $72.5 Million Sale of Shopping Center in Fayetteville, North Carolina

by Julia Sanders

Fayetteville, N.C. — SRS Real Estate Partners’ Investment Properties Group has arranged the sale of Freedom Town Center, a 350,838-square-foot shopping center in Fayetteville. The seller, an entity doing business as NC Fayetteville Skibo LLC, sold the property for $72.5 million to an undisclosed buyer. Kyle Stonis, Pierce Mayson and Boris Shilkrot of SRS’ Atlanta office represented the buyer in the transaction. Tyson Glasser of RealtyLink represented the seller. Built in 2017, Freedom Town Center was 99.7 percent leased at the time of sale to tenants including Field & Stream, …

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Avenues at Cypress
FloridaGeorgiaNewsNorth CarolinaTennessee

Blackstone Agrees to Acquire Preferred Apartment Communities for $5.8 Billion

by Julia Sanders

Atlanta and New York City — Blackstone Real Estate Income Trust Inc. (BREIT) has entered into a definitive agreement to acquire Preferred Apartment Communities Inc. (PAC) for approximately $5.8 billion. Under the terms of the agreement, BREIT will acquire all outstanding shares of PAC’s common stock for $25 per share in an all-cash transaction. PAC’s portfolio includes 44 multifamily communities totaling approximately 12,000 units concentrated largely in Atlanta, Orlando, Tampa, Jacksonville, Charlotte and Nashville, as well as 54 grocery-anchored retail assets comprising roughly 6 million square feet in Atlanta, Orlando, …

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Retail
Investment salesNewsNorth Carolina

Flagship Realty Purchases Retail Building in Asheboro, North Carolina for $2 Million

by Julia Sanders

Asheboro, N.C. — Flagship Realty LLC has purchased 1334 East Dixie Drive, a two-tenant retail building in Asheboro. The 6,400-square-foot property was fully occupied at the time of sale by Mattress Warehouse and AT&T. Jimmy Flowers of Flowers Capital Holdings brokered the $2 million sale. Flowers Capital Holdings will also manage the property. Pinnacle Bank provided a $1.6 million loan for the acquisition.

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Village Shoppes
FloridaGeorgiaNewsNorth CarolinaTennesseeVirginia

Stockbridge Acquires Six Grocery-Anchored Properties Across Southeast

by Julia Sanders

Atlanta — Stockbridge has acquired a six-property, grocery-anchored portfolio located in five markets across the Southeast. Branch Properties will maintain minority ownership in the portfolio and will continue to handle management and leasing at the property level. The portfolio features grocers Publix Super Markets and Harris Teeter, along with a mix of service providers, retailers and restaurants. The six properties, totaling 765,969 square feet, include Burnt Store Marketplace in Punta Gorda, Florida; Village Shoppes of Sugarloaf in Lawrenceville, Georgia; Five Forks Corners in Lilburn, Georgia; Waterford Village in Wilmington, North …

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LeasingNewsNorth Carolina

Floor & Decor to Occupy 51,270-Square-Foot Single-Tenant Retail Building in Wilmington

by Julia Sanders

Wilmington, N.C. — Floor & Décor will occupy a 51,270-square-foot single-tenant retail building located at 816 South College Road in Wilmington. The property was formerly occupied by Dick’s Sporting Goods. The building became available when Dick’s relocated to nearby Independence Mall. Brian Grabowski of TradeMark Properties represented property owner, Winwil Realty, in the leasing transaction. Renovations to the space are underway, with Floor & Decor expected to open this summer.

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Camp North End
LeasingNewsNorth Carolina

BayHaven Restaurant Group to Open Four Restaurants at Charlotte’s Camp North End

by Julia Sanders

Charlotte, N.C. — BayHaven Restaurant Group plans to open four restaurants at Camp North End, a mixed-use development currently underway in Charlotte. Passage Seafood, The Abyss, Bird Is The Word and B.A.D. (Beyond Amazing Donuts) are expected to open this summer. B.A.D. and Bird Is The Word will be situated next to each other in a 1,400-square-foot space; Passage Seafood will occupy 2,000 square feet; and The Abyss will occupy 1,300 square feet. Passage Seafood and The Abyss will offer indoor and outdoor dining space. Developed by ATCO Properties & …

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CaliforniaCompany newsNewsNorth Carolina

Petco to Launch New In-Store Concept at Select Lowe’s Stores in Sun Belt

by Julia Sanders

Mooresville, N.C. and San Diego — Lowe’s and Petco Health and Wellness Co. Inc. have announced plans to open a new in-store concept that will offer both home and pet products within select Lowe’s locations. The first Lowe’s + Petco store-in-store concept is slated to open at the Lowe’s Alamo Ranch store in San Antonio at the beginning of February. The companies plan to expand to 14 additional Lowe’s locations in Texas, North Carolina and South Carolina by the end of March. The purpose of the Lowe’s + Petco locations …

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ColoradoGeorgiaInvestment salesNewsNorth Carolina

Marcus & Millichap Arranges Sale of Three Retail Properties in Colorado, North Carolina and Georgia

by Julia Sanders

Golden, Colo., Charlotte, N.C. and Lithonia, Ga. — Marcus & Millichap has arranged the sale of three retail properties in Colorado, North Carolina and Georgia. Dispositions include an Advance Auto Parts location at 17151 South Golden Road in Golden, Colorado; a Dollar General location at 3708 Oakdale Road in Charlotte, North Carolina; and a Napa Auto Parts located at 7227 Covington Highway in Lithonia, Georgia. The three properties were purchased in one transaction by an undisclosed publicly-traded real estate investment company. Drew Isaac of Marcus & Millichap represented the seller, …

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LeasingNewsNorth Carolina

Several New Tenants to Open at Church Street Commons Shopping Center in Burlington, North Carolina

by Julia Sanders

Burlington, N.C. — Several new tenants are set to open at Church Street Commons, a recently constructed shopping center located at the intersection of Huffman Mill Road and Church Street in Burlington. Retailers set to open within the first quarter include The Habit Burger Grill, Aspen Dental, Popeye’s, uBreakiFix and Church Street Nails. Publix and My Eyelab opened in December 2021. Morgan Cos. purchased the 9.6-acre property, formerly the site of a Sears department store, in February 2019.

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South-Hills-Mall-Plaza
Investment salesNewsNorth Carolina

JLL Arranges $38.4 Million Sale of 365,000-Square-Foot Retail Center in Metro Raleigh

by Katie Sloan

Cary, N.C. — JLL Capital Markets has arranged the sale of South Hills Mall & Plaza, a 365,000-square-foot retail center in the Raleigh-area community of Cary. Sarah Godwin, Thomas Kolarczyk and Matt Winters of JLL represented the seller, an entity known as South Hills Shopping Center Inc. An affiliate of Northpond Partners acquired the property for $38.4 million. South Hills Mall & Plaza was 99 percent leased at the time of sale to tenants such as Northern Tool and Equipment, Roses, Tuesday Morning, Grand Asia Market, Anchor Auto Outlet, Mitchells Academy, Déjà Vu Furniture, NC …

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