Atlanta & Southeast News In Your Inbox

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

Atlanta & Southeast  + Carolinas  + Retail  | 
Institutional Property Advisors has completed the sale of Freedom Town Center in Fayetteville, NC for $83 million.

$83M Bags Grocery-Anchored Retail Center near Fort Bragg in Fayetteville

Institutional Property Advisors, a division of Marcus & Millichap, has completed the sale of Freedom Town Center in Fayetteville, NC. The 350,800-square-foot grocery-anchored shopping center sold for $83 million, which represents $236 per square foot.

Steven Siegel of IPA arranged the sale on behalf the seller, Triple Net Group, and the buyer, an investment group in a 1031 exchange.

The center was more than 99% occupied at the time of sale and serves more than four million customers annually. Major tenants include Sprouts, Dick’s Sporting Goods, Hobby Lobby, Field & Stream, Home Goods, Burkes Outlet, Petco, Buy Buy Baby, DSW, World Market, Five Below, Osh Kosh B’Gosh and Five Guys. Freedom Town Center was built in 2017 and sits on 38 acres in is located in Fayettville’s main retail area. Downtown Fayetteville and Fort Bragg, one of the world’s largest military bases, are nearby.

Connect

Inside The Story

Institutional Property Advisors

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition