{"id":1004679600,"date":"2023-09-12T00:57:20","date_gmt":"2023-09-12T08:57:20","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004679600"},"modified":"2023-09-12T00:57:22","modified_gmt":"2023-09-12T08:57:22","slug":"centersquare-buys-north-carolina-shopping-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/centersquare-buys-north-carolina-shopping-center\/","title":{"rendered":"CenterSquare Buys North Carolina Shopping Center"},"content":{"rendered":"<div id=\"attachment_1004679602\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/09\/The-Forum.png\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004679602\" data-attachment-id=\"1004679602\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/centersquare-buys-north-carolina-shopping-center\/the-forum-3\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/09\/The-Forum.png\" data-orig-size=\"1071,804\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"The Forum\" data-image-description=\"&lt;p&gt;The Forum encompasses eight buildings on a 13.6 acre-site.  Image courtesy of CenterSquare Investment Management&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The Forum encompasses eight buildings on a 13.6 acre-site.  Image courtesy of CenterSquare Investment Management&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/09\/The-Forum.png?w=1024\" class=\"wp-image-1004679602 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/09\/The-Forum.png?w=300\" alt=\"The Forum encompasses eight buildings on a 13.6 acre-site.  Image courtesy of CenterSquare Investment Management\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/09\/The-Forum.png 1071w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/09\/The-Forum.png?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/09\/The-Forum.png?resize=768,577 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/09\/The-Forum.png?resize=1024,769 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004679602\" class=\"wp-caption-text\">The Forum encompasses eight buildings on a 13.6 acre-site. <em>Image courtesy of CenterSquare Investment Management<\/em><\/p><\/div>\n<p><strong>CenterSquare Investment Management<\/strong> has purchased The Forum, a 105,785-square-foot retail center in Wilmington, N.C. <strong>Nationwide Life and Annuity Insurance Co<\/strong>. provided a $22.4 million acquisition loan, according to public records.<\/p>\n<p><strong>L&amp;B Realty Advisors<\/strong> sold the asset, according to CommercialEdge data. The company purchased the <a href=\"https:\/\/www.commercialsearch.com\/news\/3-tactics-to-improve-retail-real-estate-decisions\/\">shopping center<\/a> almost a decade ago from Swain &amp; Associates for $24.6 million\u2014AIG Insurance Co. provided a $20 million acquisition loan for that deal, the same source shows.<\/p>\n<p>Completed in 1998, the retail center encompasses eight buildings on a 13.6 acre-site. The Forum was fully leased at the time of the sale. The tenant roster includes Dunkin\u2019 Donuts, Wells Fargo, Jimmy John\u2019s, Club Pilates, California Closets, UPS, Chop\u2019t, Bento Box, Winestore, True Blue Butcher, Fleet Feet and Osteria Cicchetti.<\/p>\n<p>The Forum is at 1125 Military Cutoff Road, in Wilmington\u2019s Landfall-Mayfaire submarket. The asset is near Route 17, in an area where the daily traffic count reaches approximately 39,000 vehicles.<\/p>\n<p>The acquisition of The Forum marks CenterSquare\u2019s 15th service property purchase in the Southeast market and 37th nationwide.<\/p>\n<p>According to <strong>CBRE<\/strong>\u2019s 2023 Global Real Estate Capital Flows report, the cross-regional capital flow into North America totaled $11.8 billion in the first half of the year. Coming in second after the industrial and logistics sector, the retail sector <a href=\"https:\/\/www.commercialsearch.com\/news\/cbre-capital-forecast-caution-this-year-some-recovery-next-year\/\">attracted $3.6 billion<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>L&#038;B Realty Advisors sold the 105,785-square-foot property.<\/p>\n","protected":false},"author":3014,"featured_media":1004679602,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,21749,32781],"tags":[32789,33334,33583],"class_list":["post-1004679600","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-retail","category-southeast","tag-cbre","tag-centersquare-investment-management","tag-nationwide-life-insurance-company"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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