Raleigh, N.C. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of a five-property portfolio of Food Lion-anchored shopping centers totaling 248,030 square feet in the Carolinas. The properties include College Lakes Plaza in Fayetteville, North Carolina; Eden Centre in Eden, North Carolina; Kimberly Park in Carthage, North Carolina.; Kris Krossing in Conway, South Carolina; and West Pointe in Village Asheboro, North Carolina.
Raleigh-based Genesis Properties purchased the portfolio from Richmond-based Capital Square for an undisclosed price. Dean Zang and David Crotts of IPA, along with Zach Taylor of Marcus & Millichap, represented the seller and procured the buyer in the transaction. Ben Yelm and Donald Gilchrist served as Marcus & Millichap’s brokers of record in South Carolina and North Carolina in the deal.