North Carolina

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Grocers leading the charge as retailers are attracted to Carolinas’ job, population growth

by Alex Tostado

From the Charlotte metro area to Raleigh-Durham and back down to Upstate South Carolina and Charleston, North and South Carolina are quickly becoming the top choices for retail developers, owners and consumers, leading retail industry experts say. With new residents moving to the two-state region’s metro areas, grocers are moving in where they can. Raleigh has seen Harris Teeter expand, and Wegmans and Publix enter the market. Costco and Publix are expanding in Charleston. In Upstate South Carolina, Lowes Food and Sprouts Farmers Market are opening their doors to new …

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GeorgiaGrocery-anchoredInvestment salesNewsNorth Carolina

Branch Properties Acquires Two Grocery-Anchored Shopping Centers for $57 Million

by Alex Tostado

Roswell, Ga. and Leland, N.C. — Branch Properties has acquired two grocery-anchored shopping centers in the Southeast. The first, Roswell Market Place, is a 95,522-square-foot shopping center anchored by Sprouts Farmers Market. Branch Properties bought the asset for $32 million. The center, which is located at 10800 Alpharetta Highway, 24 miles north of downtown Atlanta, was built in 1986 and renovated two years ago. Roswell Market Place was 88 percent leased at the time of the sale. The second property is Waterford Village, a 108,249-square-foot shopping center anchored by Harris …

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Investment salesMallsNewsNorth Carolina

Tanger Outlets Sells Four Outlet Malls to Singerman Real Estate, The Outlet Resource Group for $130.5 Million

by Alex Tostado

Greensboro, N.C. — Tanger Factory Outlets Center Inc. (NYSE: SKT) has sold four non-core outlet malls to a joint venture between Singerman Real Estate and The Outlet Resource Group for $130.5 million. The four centers are located in Nags Head, North Carolina; Ocean City, Maryland; Park City, Utah; and Williamsburg, Iowa. The four properties were 95.8 percent occupied at the time of the sale. Greensboro, North Carolina-based Tanger Outlets expects to use $128.7 million of the proceeds to pay off existing debt. Tanger operates 40 outlet malls across 20 states …

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LeasingNewsNorth CarolinaRetailers

HomeGoods, Rack Room Shoes to Anchor Phase II of New Bern Marketplace in Coastal North Carolina

by Alex Tostado

New Bern, N.C. — Columbia Development has signed leases with HomeGoods and Rack Room Shoes to anchor Phase II of New Bern Marketplace in New Bern, North Carolina, a town situated along the Neuse River near the Atlantic Ocean. HomeGoods will occupy 22,000 square feet of space while Rack Room Shoes will occupy 6,139 square feet. Phase II is underway with both stores expected to open in early 2020. Columbia Development is developing the 330,000-square-foot neighborhood center and recently opened the nation’s largest Harris Teeter, as well as other tenants …

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