Progress Realty Partners (PRP) has acquired a 219,000-square-foot, class A shopping center from Westport Capital, a national REIT with offices in Connecticut and California.
The sales price was $36 million.
Marketfair Shopping Center, located at 1916 Skibo Road in Fayetteville, N.C., represents PRP’s first acquisition in North Carolina.
“What attracted us to Marketfair Shopping Center is its extraordinary tenant mix and positioning in the Fayetteville sub-market,” said Adam Dickert, who oversees the firm’s acquisitions. “Marketfair represents exactly what today’s consumer is looking for when you talk about things like convenience, experience and value.”
The property recently underwent a complete redevelopment and retenanting, highlighted by the mid-December grand opening of Lidl, a German-based grocery store. Lidl joins other national tenants, such as Planet Fitness, Gander Outdoors and AMC Theaters.
Progress Realty Partners specializ