Fayetteville, N.C. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $83 million sale of Freedom Town Center, a 350,800-square-foot shopping center in Fayetteville.
Built in 2017, the property was almost fully leased at the time of sale to tenants such as Sprouts Farmers Market, Dick’s Sporting Goods, Hobby Lobby, Field & Stream, HomeGoods, Burkes Outlet, Petco, buybuy Baby, DSW, World Market, Five Below, Osh Kosh B’Gosh and Five Guys.
Triple Net Group sold Freedom Town Center to an unnamed investment group in a 1031 exchange. Steven Siegel of IPA represented both parties in the transaction. Ben Yelm, Marcus & Millichap’s broker of record in North Carolina, assisted Siegel.