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Cary, NC Shopping Center Sells for $13M
Chicago-based real estate investment firm Northpond Partners, operating as NP Preston Corners LLC, has acquired the Preston Corners shopping center in Cary, NC, for $13.2 million. The seller was Canadian insurance company Sun Life Assurance Co. of Canada, which had owned the shopping center since 1995. It was remodeled in 2001.
Preston Corners has 42,755 square feet of retail space located on 8.54 acres at 940 High House Road near Fred G. Bond Park and Prestonwood Country Club. It’s anchored by Lowes Foods and is also home to Kung Fu Tea, Loren Dean Designs, Miso Ramen Bar, Skrimp Shack, and The Little Gym of Cary.
Other Northpond projects in the area include retail redevelopment in Glenwood South, South Hills Mall, and Gateway Plaza in Raleigh. Last year the company acquired five lots for $31.5 million at Falls River Town Center in Raleigh.
- ◦Sale/Acquisition


