Preferred Apartment Communities has acquired Wakefield Crossing, a grocery-anchored shopping center in Raleigh, N.C.
The 75,927-square-foot Wakefield Crossing Shopping Center is anchored by Food Lion, the top market share grocer in Raleigh.
Michael Aide, executive vice president and managing director of new markets, said, “Wakefield Crossing Shopping Center is our third shopping center in the Raleigh MSA. We now own 53 grocery-anchored centers, all of which are consistent with our strategy to acquire well-positioned grocery-anchored centers in suburban Sunbelt and Mid-Atlantic markets with strong demographics that are anchored by market leading grocers.”
The location is strategically positioned at the entrance of the master-planned Wakefield community, home to Wakefield Elementary, Wakefield Middle School and Wakefield High. The center is surrounded by very affluent demographics, has ideal access, and has 692 linear feet of frontage along Falls of Neuse Road
