Cushman & Wakefield Closes Sale of Alexander Village in Raleigh MSA

Cushman & Wakefield Closes Sale of Alexander Village in Raleigh MSA

CHARLOTTE, NC, April 13, 2018 – Cushman & Wakefield announced today that it has represented a private owner in the sale of Alexander Village, a 77,994-square-foot shopping center in Morrisville, NC.

Cushman & Wakefield’s Sam Young and David Hoppe represented the seller. The buyer, a private investor from Dallas, acquired the asset for $11.3 million, or $145 per square foot.

Alexander Village consists of 14.5 acres in one of the Raleigh/Durham area’s fastest-growing submarkets. The property is anchored by a Food Lion grocery store and is leased to a mix of retail, service-oriented and restaurant tenants. The shopping center benefits from 42% residential population growth and nearly 100,000 people employed in the surrounding area.

“Wide investor interest in this property demonstrates strong demand for quality assets in high-growth North Carolina markets,” said Young.

Added Hoppe, “Retail has always been about location, and Alexander Village is a high-performing asset in the heart of the world-renowned Research Triangle Park.”

2018-05-03T19:45:07+00:00 April 13th, 2018|In the News|