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Wakefield Wellons acquires Raleigh community retail center with grocery anchor trades
Wakefield Wellons announced it has acquired Wakefield Crossing, a 75,927-square-foot, grocery-anchored community retail center in Raleigh, N.C. JLL represented the seller.
Constructed in 2001, the 95 percent-occupied Wakefield Crossing is anchored by a Food Lion, which has operated at this location since 2001 and represents 50 percent of the total GLA. Additional tenants include Tuesday Morning, Subway, Dante’s Italiano, Wakefield Tavern and Wake Health Medical Group. The center receives approximately 791,000 visits annually.
Wakefield Crossing is located at 13200 Falls of Neuse Road in a main retail corridor within the Raleigh submarket of Wake Forest. It benefits from 19,500 vehicles passing along Falls of Neuse Road per day. The property is within 30 miles of the area’s top demand drivers, including Research Triangle Park, University of North Carolina Chapel Hill, Duke University, North Carolina State University and Raleigh-Durham International Airport.