Atlanta & Southeast News In Your Inbox
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Metro Raleigh Grocery Property Trades for $35M
JLL has arranged the $34.8 million sale of Wegmans, West Cary, a 103,000-square-foot, single-tenant retail property in Cary, N.C. Tom Kolarczyk, Ryan Eklund and Chris Angelone of JLL represented the seller, Leyland Twin Lakes, in the transaction. The buyer was San Diego-based Realty Income Corp.
Located on more than 11 acres at 3710 Davis Dr., the property anchors Twin Lakes Center, a walkable, mixed-use project in West Cary, a suburb of Raleigh. Leyland Twin Lakes began development of the Twin Lakes Center in 2018 and Wegmans completed construction of its building in early 2020.
“The Twin Lakes development is an exceptionally well-conceived, Class A development,” said Kolarczyk. “The sale of the Wegmans ground lease showcased the high demand for core, credit and long-term triple-net-leased assets. The reception was overwhelming, and we are thrilled with the outcome for both LeylandAlliance and Realty Income.”
For comments, questions or concerns, please contact David Cohen
- ◦Sale/Acquisition
