Apr
06
N.C. Retail Power Center Commands $129.2M
ByInvenTrust Properties Corp. of Oak Brook, Ill., paid $129.2 million for a retail power center in Durham, N.C.
Renaissance Center, Durham, N.C.
Durham, N.C.—InvenTrust Properties Corp. has acquired Renaissance Center, a 363,176-square-foot retail power center located in Durham, N.C., for $129.2 million.
The property was 96 percent leased at the time of the sale.
“This property checked all our boxes. Renaissance Center is a trophy-type asset in a region of economic and population growth,” Christopher Covey, InvenTrust’s SVP of transactions, told Commercial Property Executive. “The large number of highly educated produced by the three large universities have long served as a major catalyst for business growth and economic development in the region.”…
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