X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

DURHAM, NC-A joint venture of Chattanooga, TN-based CBL & Associates and Teachers Retirement System of the State of Illinois has acquired the 70-acre Renaissance Center mixed-use development at Interstate 40 and Fayetteville Road for $90 million. The seller was Cincinnati-based Midland Atlantic Development, which developed the property beginning in 2004.

The project–which features retail, restaurants, 120 apartments and 56,000 sf of class A office–was completed in 2007. Starmount Co. leased and managed the property. “Our development of the Southpoint area has been a terrific experience,” says Midland Atlantic managing principal John Silverman, in a prepared statement.

Anchored by REI Sports and Best Buy, Renaissance Center is 93% occupied. Other retail tenants include Old Navy, Pier One, Babies ‘R’ Us, Linens n’ Things, World Market, PF Chang’s, Chili’s and Ted’s Montana Grill. The development is located across the street from the Nordstrom-anchored Streets at Southpoint Mall.

Midland Atlantic has also developed the 300,000-sf Renaissance Center at Southpoint retail center and the Shops at South Square in Durham.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.