Jacksonville, N.C. — Lori Schneider and David Gant of Marcus & Millichap have arranged the sale of Gateway Marketplace, a 131,780-square-foot shopping center located in Jacksonville. Anchored by Publix Supermarket, HomeGoods, Michaels and Ulta Beauty, the center is comprised of 16 suites and sold for $29 million. Prestige Properties and Development LLC was the buyer, procured by Marcus & Millichap on behalf of the seller.
Cary, N.C. — David Garfinkel of Northmarq’s St. Louis office has arranged $21 million in financing for the acquisition of Bradford Square, a 78,628-square-foot retail center located in the Raleigh suburb of Cary. Financing was secured in the form of a permanent-fixed loan from a life insurance company on behalf of National Real Estate Management (NRE). Anchored by Publix, the center was fully leased at the time of its sale to NRE, with tenants including Cary Salon, Night and Day Dental, First Watch, Brixx Wood Fired Pizza, Burger 21 and …
Forest City, N.C. and Cedartown, Ga. — RealSource Group has arranged the $7.9 million sale-leaseback of a portfolio consisting of two Mach-1 Express Wash properties. Both assets are single-tenant 4,000-square-foot properties located in Walmart-anchored shopping centers. One of the properties is located in Forest City, North Carolina, roughly 65 miles west of Charlotte. The second property is located in Cedartown, Georgia, 60 miles outside of downtown Atlanta. Austin Blodgett of RealSource and Chris Salemi of Aileron Capital Management represented the seller, Mach One (Holdings) Limited. The undisclosed New Jersey-based institutional …
Charlotte, N.C. — CBRE has announced plans for the renovation and rebranding of EpiCentre, a 302,324-square-foot mixed-use development in uptown Charlotte. Significant improvements are currently underway, including repairs to the property’s courtyard, parking garage, patios and roof. The development originally opened in 2008 and is to be renamed Queen City Quarter. Kivett Williams and Kris Westmoreland of CBRE are the exclusive marketing and leasing agents for the retail and office spaces respectively.
Cary, N.C. — Hines and Columbia Development have announced the addition of four new tenants to Fenton, a mixed-use development in Cary, located approximately 10 miles west of Raleigh. Warby Parker, Faherty Brand, Bluemercury and Doc B’s Restaurant and Bar will join the 69-acre property. Fenton is home to tenants including Nike Live, Sports & Social, Arhaus, Sephora, Williams Sonoma, Lululemon, Free People, Athleta, Honeysuckle Gelato, Pottery Barn, Superica and Radiant Waxing. Warby Parker will occupy 1,612 square feet; Faherty will occupy 2,115 square feet; Doc B’s will occupy 6,009 …
Cary, N.C. — ShopOne Centers REIT Inc., in a joint venture with Pantheon and an undisclosed institutional investor, has acquired Shoppes on the Parkway in Cary, about ten miles west of downtown Raleigh. The Fresh Market anchors the 40,000-square-foot center, which was 96 percent leased at the time of sale. The transaction marks the first acquisition by the joint venture.
Concord, N.C. — Stan Johnson Co. has arranged the $15.2 million sale of Concord Station, a 45,569-square-foot retail center located approximately 15 miles northeast of Charlotte in Concord. Billy Benedict of Stan Johnson Co. represented the South Carolina-based private buyer in the acquisition of the property from a Florida-based developer. Concord Station was leased to nine tenants at the time of sale, including McAlister’s Deli, Guitar Center, The UPS Store and Big Blue Swim School.
Concord, N.C. — PEBB Enterprises has sold Concord Station, a 45,569-square-foot retail center located at 8591 Concord Mills Blvd. in the Charlotte suburb of Concord. The buyer, an entity doing business as South Coast Commercial LLC, purchased the center for $15.2 million. Evan Halkias and Margaret Jones of Cushman & Wakefield represented PEBB in the transaction. Situated at the entrance of Simon’s newly renovated Concord Mills Mall, Concord Station was fully leased at the time of sale to tenants including Big Blue Swim School, McAlister’s Deli, Guitar Center, The UPS …
Hickory, N.C. — JLL Capital Markets has brokered the $20.7 million sale of Valley Crossing, a 191,431-square-foot shopping center located in Hickory. The property was 98.2 percent leased at the time of sale to tenants including Academy Sports + Outdoors, Ollie’s Bargain Outlet, JOANN Fabrics and Craft, Harbor Freight Tools, Dollar Tree and American Freight Furniture. Valley Crossing was developed in 1988 and is located at 2154 US Highway 70 SE. Tom Kolarczyk and Brad Peterson of JLL represented the seller, an undisclosed public REIT, in the disposition of the …
Durham, N.C. — Armada Hoffler Properties has sold two single-tenant retail properties in Durham for a combined $23.9 million. The assets include a 120,000-square-foot store at 1700 N. Pointe Drive that is leased to The Home Depot and a 148,663-square-foot store at 1510 N. Pointe Drive leased to Costco. The adjacent, triple-net-leased stores are situated within two miles of Duke University and downtown Durham. Alex Sharrin, Alex Geanakos and Michael Roberts of JLL represented Armada Hoffler in the transaction. An unnamed investment firm based in New York City purchased both stores.
