North Carolina

The Shoppes at Toringdon

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

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

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

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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1800-North-Main-Street

High Point, N.C. — West Palm Beach, Florida-based FrostPoint Capital has acquired a 33,455-square-foot retail center in High Point. Located at 1800 N. Main St., the unanchored shopping center is roughly one mile west of High Point University. Tenants at the property include Company’s Coming, 98 Asian Bistro, Tea Time Boba Tea Lounge, Hair Kutts Salon, Still Waters Spa, TL Fitness and Q’s Corner. FrostPoint Capital is planning an extensive redevelopment that will pay tribute to the site’s former occupant, Lyles Chevrolet. This transaction marks FrostPoint Capital’s 14th acquisition in …

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Gold Hill Commerce Park

Charlotte, N.C. — CenterSquare Investment Management has acquired Gold Hill Commerce Park, an 11,835-square-foot service retail shopping center located in Charlotte. The property was fully leased to tenants including Marco’s Pizza, UrgentVet, Select Physical Therapy and Allen Tate Realty at the time of sale. This transaction marks CenterSquare’s 20th acquisition in the Southeast.

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Eidi Properties portfolio

Toledo, Ohio — Toledo-based Eidi Properties has acquired 39 shopping centers totaling 650,257 square feet across Illinois, Florida, Virginia, Michigan, North Carolina and Indiana. This transaction, which features a mix of power centers, grocery-anchored plazas and community hubs, brings Eidi’s portfolio to nearly 80 retail properties and more than 1.5 million square feet. The properties were all purchased from Dembs Development. Joel Jerger of WesBanco, Andy Maher and Brian White of Waterford Bank, N.A., as well as John Skeldon and Joe Bajas of Cooperative Business Services (CBS), all based in …

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Groundbreaking of BJ's Wholesale Club

Selma, N.C. — AdVenture Development has broken ground on a BJ’s Wholesale Club located within the master planned community of Eastfield Crossing, a 3 million-square-foot mixed-use development located in Selma. The new club, which will feature an on-site BJ’s gas station, will total 100,000 square feet. Additional tenants at the development include Academy Sports + Outdoors, Hobby Lobby, Old Navy, Ulta Beauty, Marshalls, Ross Dress For Less, Burlington, Five Below, Chase Bank and Target. Eastfield Crossing is situated on 400 acres and includes a business park, retail and entertainment space, …

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Roxboro, N.C. — Prudent Growth Partners has acquired Shops of Roxboro Square, a 29,900-square-foot shopping center located in Roxboro, roughly 30 miles north of Durham. Prudent Growth purchased the property for $4 million. Built in 1988, the center comprises 11 tenants including La Cocina Mexican Restaurant, Jolly Nails, United Home Care, Buddy’s Home Furnishings, Taste of NY Deli & Pizza and New Southern Loans.

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Carmel Village

Charlotte, N.C. — Cushman & Wakefield has arranged the $19.9 million sale of Carmel Village, a 53,615-square-foot retail center located in Charlotte. The center — which was 91 percent leased at the time of sale — features a mix of tenants including Bonefish Grill, Mathnasium, Eye Care Partners, Chick-O-Rice, NY Old School Bagels and QC Tea Bar. Margaret Jones, Lane Breedlove and Miguel Alcivar of Cushman & Wakefield represented the seller, Raptor Realty Investments, in the transaction.

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