L&B Realty Advisors Buys Twin Lakes Center, Only Wegmans in Cary
JLL has closed the sale of Twin Lakes Center, a fully leased, 18,594-square-foot, multi-tenant retail building anchored by the only Wegmans in the Raleigh-Durham area community of Cary, NC.
The plaza’s national and local tenants including Hollywood Feed, Great Clips, Mezeh Mediterranean Grill, Premier Martial Arts, PM Pediatrics, Paris Nail Bar, Bul Box and Gulli Boys.
Thomas Kolarczyk and Ryan Eklund of JLL represented the seller, Leyland Alliance. L&B Realty Advisors acquired the asset on behalf of an institutional separate account client.
“Twin Lakes is a Class A+ development with a thoughtful layout, excellent connectivity, and superior fundamentals,” Kolarczyk noted. “We had significant interest from all sources of capital, including many institutional investors and publicly traded companies.”
The center is situated on 1.72 acres and serves a trade area that includes 66,557 residents with an annual household income of $134,353 within a three-mile radius.
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.
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