| Date of Investment | 2002 |
| Transaction Size | $8 Million |
| Remediation, Insurance and Redevelopment Costs | N/A |
| Type of Assets | Retail |
| Gross Rentable Area | 481,000 square feet |
| Location | Raleigh, NC |
Transaction Background
Our client acquired a 481,000 square foot class B regional shopping mall situated on 31.2-acres in an affluent neighborhood in Raleigh, NC. The property presently is 70% leased. The plan is to address the environmental issues at the property, sell selected out-parcels, redevelop a portion of the property, and sell the improved mall to a developer.
