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National Real Estate Management Acquires Cary Retail Center with $21M Via Northmarq
St. Louis, MO-based National Real Estate Management has acquired the Bradford Square retail center in the Raleigh submarket of Cary, NC.
David Garfinkel with Northmarq secured $21million in acquisition financing for the Class A, 78,628-square-foot, grocery-anchored neighborhood retail center on behalf of the NRE, with whom Northmarq has had 20-year relationship. The permanent-fixed loan was arranged with a life insurance company
The center, located at 1020 Bradford Plaza Way, was fully leased at the time of the sale and is anchored by a 49,000-square-foot Publix grocery store. Addititional tenants include Cary Salon, Night and Day Dental, First Watch, Brixx Wood Fired Pizza, Burger 21, and Hand and Stone Massage Spa.
“This is a high-performing center in a sought-after submarket,” said Garfinkel said. “Publix was the original tenant and has a long-term lease with a lot of remaining term. These types of centers are very attractive to investors and the lending community.”
- ◦Sale/Acquisition
