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Atlanta & Southeast  + Southeast  + Retail  |  January 14, 2020
David Cohen
By: David Cohen

PAC Snags 305K-SF Shopping Center in North Carolina

Preferred Apartment Communities (PAC), along with joint venture partner Harbour Retail Partners, have acquired Hanover Shopping Center, a 305,346-square-foot grocery-anchored shopping center in Wilmington, NC. The sales price was not disclosed.

The center is anchored by a Harris Teeter supermarket and is located in Wilmington’s Oleander Drive retail corridor. PAC made the investment through its subsidiary, New Market Properties. The seller was the MacRae family, which had owned the center for the last 70 years.

“We are excited to partner with Harbour Retail Partners, a highly regarded retail owner and developer,” said Michael Aide, senior vice president at New Market Properties. “The Harbour team brings a strong track record of execution with a deep understanding of the Wilmington market that will be extremely valuable in improving upon Hanover’s standing as the dominant Harris Teeter anchored center in the market.”

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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