Asheville, N.C. — Home furnishings retailer Crate & Barrel is set to open a new outlet store at Asheville Outlets in North Carolina. Crate & Barrel Outlet offers contemporary and modern furniture, housewares, décor, entertaining items and kitchen accessories. This new location, set to open during the summer, will be one of 18 Crate & Barrel Outlet stores in the country. Developed by New England Development, Asheville Outlets offers over 70 retailers and restaurants at the intersection of I-40 and I-26 at Brevard Road in Asheville.
Raleigh, N.C. — Avison Young has secured a $40 million senior loan to fund the pre-development activities and horizontal infrastructure construction for Midtown Exchange, a $1 billion mixed-use development underway in Raleigh. The developer of Midtown Exchange, Dewitt Carolinas, received the funding for the 353,000-square-foot office tower. Wes Boatwright, Mike Yavinsky and Jon Goldstein of Avison Young led the financing transaction through an undisclosed lender. At full buildout, Midtown Exchange will include 790,000 square feet of Class A office space, 1,275 residential units, 300 seniors housing units, 300 hotel rooms, …
Henderson, N.C. — Marcus & Millichap has brokered the $7.2 million sale of a Food Lion-anchored, 182,646-square-foot shopping center located in Henderson. David Gant and Lori Schneider of Marcus & Millichap represented the seller, a limited liability company. The duo also represented the buyer, a limited liability company.
Rockingham, N.C. — Marcus & Millichap has brokered the $7.6 million sale of a 129,529-square-foot retail store leased to Lowe’s Home Improvement in Rockingham. Realty Income, a net-lease REIT based in San Diego, purchased the property from the seller, an entity doing business as Tri City Rockingham LLC. Don McMinn of Marcus & Millichap’s Taylor McMinn Retail Group brokered the transaction. The Lowe’s Home Improvement property is located at 1300-A E Broad Ave. “This transaction illustrates the demand for essential net-lease retail,” says McMinn. “Home improvement was one of the …
Mount Airy, N.C. — WRS Inc. Real Estate Investments has leased 20,243 square feet of retail space at The Mayberry Mall in Mount Airy to Bin City Bargains. The retailer is a family-owned liquidation company featuring products from major online retailers, as well as big box department stores. Originally opened in 1968, The Mayberry Mall is located at 388 Frederick St. and is currently leased to tenants such as Hobby Lobby, Belk, Hallmark, Shoe Dept., Enmar Accessories, L.A. Nails and Good Fudge. The mall is named after the fictional town …
Highland Creek, N.C. and Ocoee, Fla. — Westwood Financial LLC has acquired Prosperity Village Square and Fountains West, two Publix-anchored shopping centers in the Southeast. Prosperity Village Square was developed in 2016 and is located in the Highland Creek suburb of Charlotte. Fountains West is a neighborhood center located in the western Orlando suburb of Ocoee, Fla. Westwood Financial acquired the centers in a single transaction from one undisclosed, private seller. CBRE acted as lead broker on the deal, the price of which was not disclosed. The Los Angeles-based investor …
Raleigh, N.C. — Jamestown and Grubb Ventures have started construction on the first phase of Raleigh Iron Works, a new mixed-use development with nearly 500,000 square feet of creative office space, 90,000-plus square feet of retail and 220 new residential units. The property will be located in Raleigh’s Five Points, Person Street and Mordecai neighborhoods. Brasfield & Gorrie is part of the construction team. Located at 2200 Atlantic Ave., Raleigh Iron Works was designed with a mix of shopping, dining, wellness, event and outdoor spaces. The first phase of the project includes the …
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 …
Toronto — Slate Grocery REIT has entered into an agreement to acquire five grocery-anchored shopping centers in North Carolina, Florida and Georgia for $54.3 million. The five assets comprise 396,471 square feet and were 95 percent leased at the time of sale. The three North Carolina properties are Bells Fork, a 71,666-square-foot center in Greenville anchored by Harris Teeter; Tanglewood Commons, a 78,520-square-foot property in Winston-Salem anchored by Harris Teeter; and Westin Center, a 66,890-square-foot, Food Lion-anchored asset in Fayetteville. The Florida property is Mission Hills, an 85,078-square-foot property in …
High Point, N.C. — Marcus & Millichap has arranged the $23.5 million sale of High Point Harris Teeter Center, a 192,548-square-foot shopping center in High Point. The asset was fully leased at the time of sale to tenants including Harris Teeter, T.J. Maxx, Ross Dress for Less and Staples. The property was originally developed in 1975, and the undisclosed seller owned it for more than 20 years. Lori Schneider of Marcus & Millichap represented the seller in the transaction. Ben Yelm of Marcus & Millichap was the broker of record. …