RALEIGH, NC-After four years of capital improvements and new tenants, such as grocer Trader Joe's, the owners of the Holly Park shopping center here have sold the property for $33.9 million.
Regency Centers of Jacksonville, FL acquired the 159,871-square-foot center from a partnership of Lat Purser & Associates of Charlotte and the Principal Financial Group of Des Moines, IA. The Lat Purser-Principal partnership acquired the property in 2007 for $17 million, according to the Triangle Business Journal.
Since then, in addition to bringing the first Trader Joe's grocery in Raleigh to the center, the ownership also brought Ross Dress for Less to Holly Park and in the spring will add Staples to its tenant roster. The shopping center was 98.6% occupied at the time of the sale. See story in the Triangle Business Journal.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
