{"id":1004648734,"date":"2023-03-03T02:28:49","date_gmt":"2023-03-03T10:28:49","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004648734"},"modified":"2023-03-03T02:28:53","modified_gmt":"2023-03-03T10:28:53","slug":"pac-sells-raleigh-shopping-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/pac-sells-raleigh-shopping-center\/","title":{"rendered":"PAC Sells Raleigh Shopping Center"},"content":{"rendered":"
\"Wakefield<\/a>

Wakefield Crossing. Image courtesy of JLL Capital Markets<\/em><\/p><\/div>\n

Granite Canyon Partners<\/strong> has purchased Wakefield Crossing, a 75,927-square-foot shopping center in Raleigh, N.C., for $14.3 million. JLL Capital Markets<\/strong> brokered the transaction on behalf of the seller. Preferred Apartment Communities<\/strong> sold the grocery-anchored shopping center, according to CommercialEdge data. The property last traded for $12.1 million, sold by Hackney Real Estate Partners back in 2020.<\/p>\n

Food Lion and Tuesday Morning anchor the 2001-completed center. Other tenants include Subway, Wakefield Tavern, Wake Health Medical Group and Dante\u2019s Italiano. At the time of the sale, the center was 95 percent occupied.<\/p>\n

Wakefield Crossing is located in Raleigh\u2019s Wake Forest submarket, at 13200 Falls of Neuse Road. The center occupies 9.9 acres. According to JLL, the property sits in an area with a daily traffic count of approximately 19,500 vehicles and annual customer visits close to 800,000.<\/p>\n

Senior Director Tom Kolarczyk led the JLL Capital Markets Investment Sales and Advisory team. Kolarczyk, along with Senior Managing Director Danny Finkle, also recently represented Columbia Development Group and Luber Adler in selling a 59,516-square-foot shopping center<\/a> in New Bern, N.C.<\/p>\n","protected":false},"excerpt":{"rendered":"

JLL Capital Markets brokered the transaction.<\/p>\n","protected":false},"author":3014,"featured_media":1004648736,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,1604,21749],"tags":[51914,44006,33087],"class_list":["post-1004648734","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-raleigh-durham","category-retail","tag-granite-canyon-partners","tag-jll-capital-markets","tag-preferred-apartment-communities-inc"],"acf":[],"yoast_head":"\nPAC Sells Raleigh Shopping Center - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Granite Canyon Partners bought Wakefield Crossing, a 75,927-square-foot shopping center in the Raleigh area.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/pac-sells-raleigh-shopping-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PAC Sells Raleigh Shopping Center\" \/>\n<meta property=\"og:description\" content=\"Granite Canyon Partners bought Wakefield Crossing, a 75,927-square-foot shopping center in the Raleigh area.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/pac-sells-raleigh-shopping-center\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-03T10:28:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-03T10:28:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/wakefield-crossing-1-e1677671409658.png\" \/>\n\t<meta property=\"og:image:width\" content=\"632\" \/>\n\t<meta property=\"og:image:height\" content=\"474\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Diana Firtea\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/pac-sells-raleigh-shopping-center\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/pac-sells-raleigh-shopping-center\/\",\"name\":\"PAC Sells Raleigh Shopping Center - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/pac-sells-raleigh-shopping-center\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/pac-sells-raleigh-shopping-center\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/wakefield-crossing-1-e1677671409658.png\",\"datePublished\":\"2023-03-03T10:28:49+00:00\",\"dateModified\":\"2023-03-03T10:28:53+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/a0c04b9de1387474e28c9ebdb0444e59\"},\"description\":\"Granite Canyon Partners bought Wakefield Crossing, a 75,927-square-foot shopping center in the Raleigh area.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/pac-sells-raleigh-shopping-center\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/pac-sells-raleigh-shopping-center\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/pac-sells-raleigh-shopping-center\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/wakefield-crossing-1-e1677671409658.png\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/03\/wakefield-crossing-1-e1677671409658.png\",\"width\":632,\"height\":474,\"caption\":\"Wakefield Crossing. 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