Finmarc Cashes In $81M for Raleigh Retail Center
The transaction resulted in a 39 percent premium for the seller.
Finmarc Management has sold Capital Marketplace, a 383,000-square-foot retail center in Raleigh, N.C., with the assistance of CBRE. Principal Financial Group paid $80.6 million for the property.
The transaction resulted in a 39 percent premium for Finmarc, which had purchased the asset—then dubbed Plantation Point Shopping Center—for $58 million in 2021, according to Yardi Matrix. A $41.4 million loan from City National Bank financed that acquisition.
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Capital Marketplace occupies 53 acres at 6401 Triangle Plantation Drive in the Northeast Raleigh area, just south of Interstate 540. The property is part of a prominent retail corridor alongside Highway 1 that also includes Triangle Plaza, Triangle Town Center and Capital Crossing, to name a few.
Burlington, Dollar Tree, LA Fitness and BJ’s Wholesale Club anchor the 12-building shopping center that came online in 2006. Its roster also includes a mix of local and national tenants in the apparel, health and wellness, grocery and restaurant categories.
During its five-year hold, Finmarc brought the retail center’s occupancy level to 97.5 percent. In 2025, the owner signed a long-term lease with Bob’s Discount Furniture, marking the retailer’s entrance into the Raleigh metro.
Capital Marketplace sees more than 2.6 million annual visits. The retail center serves an extended trade area with more than 200,000 residents within a 5-mile radius, a population expected to increase to nearly 215,000 residents by 2029.
CBRE Executive Vice President Ryan Sciullo, Senior Vice Presidents Adam Russ and Erin Varol, together with First Vice President Casey Smith represented Finmarc. In addition, Kelley Drye & Warren LLP Partner Aaron Rosenfeld provided the seller with legal assistance.
Proceeds from this transaction will further support Finmarc’s goal to invest up to $400 million in commercial real estate properties through 2026. The company owns and operates more than 7 million square feet of space spread across mostly the Mid-Atlantic region, while also seeking core and value-add office, retail, industrial and flex office opportunities.
Raleigh’s retail sector stays resilient
Raleigh-Durham’s retail sector showed strong fundamentals at the end of the first quarter, according to a recent Colliers report. The metro’s vacancy rate stood at 2.5 percent—marking four consecutive years with rates below 3 percent.
And the market situation is likely to remain unchanged, as demand continues to outpace supply, per current retail trends. Of the 322,043 square feet that came online in the first three months of the year, roughly 94 percent was already leased, the report shows.
Year-to-date as of April, the metro saw only four retail transactions totaling 494,802 square feet, according to Yardi Matrix information. One of them was the $25.6 million acquisition of Riverview Shopping Center, a 119,791-square-foot property in Durham, N.C. CBRE Investment Management purchased the asset from Epic Real Estate Partners as part of a larger portfolio transaction involving seven grocery-anchored centers spread across five states.
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