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Investment salesNewsNorth Carolina

Marcus & Millichap Brokers $10.5 Million Sale of Berkeley Plaza in Goldsboro, North Carolina

by Hayden Spiess

Goldsboro, N.C. — Marcus & Millichap has brokered the $10.5 million sale of Berkeley Plaza, a 101,812-square-foot shopping center in Goldsboro. Tenants at the property, which was fully occupied at the time of sale, include Big Lots, Gold’s Gym, Staples, Books-A-Million, AT&T and U.S. Armed Forces. Andrew Margulies, Harrison Creason and Harrison Jones of Marcus & Millichap represented the seller, a North Carolina-based investor, in the transaction. Bold Commercial Real Estate represented the buyer, a family office. 

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Nordstrom to Open 26 New Nordstrom Rack Stores

by Hayden Spiess

Seattle — Seattle-based retailer Nordstrom has announced plan to open 26 new Nordstrom Rack stores. Openings are scheduled to begin this spring and continue through spring 2025. The sites of the new stores include locations in Arizona, California, Florida, Georgia, Illinois, Indiana, Nebraska, New Jersey, New York, North Carolina, Ohio and Texas.

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Investment salesNewsNorth Carolina

Yale Realty Services Corp. Acquires 294,617-Square-Foot Shopping Center in Concord, North Carolina for $49.2 Million 

by Hayden Spiess

Concord, N.C. — An affiliate of Yale Realty Services Corp., in partnership with an international family office, has acquired Afton Ridge, a 294,617-square-foot shopping center located in Concord, roughly 25 miles northeast of Charlotte. Robert Altman of Altman Warwick Inc. and Bat Barber of Medalist Capital arranged the $49.2 million acquisition on behalf of the buyer. Mike Burkard and Steve Shields of CBRE represented the undisclosed seller in the transaction. MetLife financed the acquisition with a $29.6 million mortgage.  A Super-Target anchors the property, which was 97 percent occupied at the …

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DevelopmentFinanceNewsNorth Carolina

BWE Arranges $24.3 Million Construction Loan for Retail Development in Southern Pines, North Carolina

by Hayden Spiess

Southern Pines, N.C. — BWE has arranged a $24.3 million loan for the construction of Phase II of Morganton Park South, a retail development underway in Southern Pines. Situated near the Pinehurst Golf Resort, Phase II is fully preleased and will house the region’s first BJ’s Wholesale Club. Phase I of Morganton Park South is occupied by tenants including Target, Dick’s Sporting Goods/Golf Galaxy and HomeGoods. Daniel Rosenberg and Logan Petersmeyer of BWE originated the interest-only loan on behalf of the borrower, Midland Atlantic Properties. The loan was underwritten with a …

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Grocery-anchoredInvestment salesNewsNorth Carolina

Legacy Brokers $3.5 Million Sale of Heritage Crossing Shopping Center in Kinston, North Carolina

by Hayden Spiess

Kinston, N.C. — Legacy Realty Group Advisors has brokered the $3.5 million sale of Heritage Crossing, a 50,467-square-foot shopping center located in Kinston. Food Lion, Rainbow and Hibbett Sports anchor the property. Jacob Baruch and Jonah Warshaw of Legacy represented both the buyer and seller in the transaction. 

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Grocery-anchoredInvestment salesNewsNorth Carolina

Mack, Soundwater Acquire 122,091-Square-Foot Shopping Center in Raleigh Suburb

by Hayden Spiess

Cary, N.C. — A partnership between an affiliate of Mack Real Estate Group (MREG) and Soundwater Properties has purchased Maynard Crossing, a 122,091-square-foot shopping center located in Cary, a suburb of Raleigh. Built in 1996, the property was 88 percent leased at the time of sale to tenants including anchor Harris Teeter, Workout Anytime, Doctors Express, Riccobene Family Dentistry, Brigs Restaurant, Kathmandu Kitchen and All American Swim Supply, as well as a newly built outparcel gas station. Tom Kolarczyk, Danny Finkle, Jim Hamilton and Steele Burkett of JLL represented the undisclosed …

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LeasingNewsNorth Carolina

Nordstrom Rack to Open Two Stores Totaling 57,000 Square Feet in North Carolina

by Hayden Spiess

Matthews and Raleigh, N.C. — Nordstrom Rack, the off-price retail division of Nordstrom, will open two new stores in North Carolina, expanding the retailer’s footprint in the state by 57,000 square feet. Scheduled to open this fall, the first store will comprise 32,000 square feet within Triangle Town Place in Raleigh. Other tenants at Triangle Town Place include Dick’s Sporting Goods and DSW. Global Net Lease owns and manages the property. The second store, which is scheduled to open spring 2025, will occupy 25,000 square feet within Sycamore Commons in Matthews. …

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Grocery-anchoredInvestment salesNewsNorth Carolina

Legacy Brokers $8.3 Million Sale of Fiddler’s Run Shopping Center in North Carolina

by Hayden Spiess

Morganton, N.C. — Legacy Realty Group Advisors has brokered the $8.3 million sale of Fiddler’s Run Shopping Center in Morganton. Food Lion anchors the property, which totals 200,000 square feet. Jacob Baruch and Daniel Baruch of Legacy represented both the buyer and seller in the transaction. 

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Company newsNewsNorth Carolina

Big V Appoints Eric Zimmermann Chief Acquisitions Officer

by Hayden Spiess

Charlotte, N.C. —Big V Property Group has appointed Eric Zimmermann as the Charlotte, North Carolina-based company’s chief acquisitions officer. Zimmermann previously served as a managing director with Eastdil Secured before joining Big V in 2023 as an advisor to the executive committee. His track record includes arranging the $660 million sale of Country Club Plaza in Kansas City, Missouri, and the $494 million sale of Avalon in Atlanta. “We are very excited that Eric has agreed to lead our acquisition and disposition efforts on a permanent basis,” says Jeffrey Rosenburg, president …

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Investment salesNewsNorth Carolina

Marcus & Millichap Brokers Sale of 40,000-Square-Foot Retail Center in Hope Mills, North Carolina

by Hayden Spiess

Hope Mills, N.C. — Marcus & Millichap has brokered the sale of Millstone Towne Center, a 40,000-square-foot retail center located in Hope Mills. Built in 2008, the property was 92 percent leased at the time of sale. Donald Gilchrist and Nathan McElroy of Marcus & Millichap represented the seller in the transaction. Greg Marks of Triland Properties represented the buyer. 

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