CBRE Arranges Major Retail Transactions in Raleigh

By Adriana Pop, Associate Editor

Raleigh, N.C.–CBRE|Raleigh has announced the completion of two big box, retail transactions totaling more than 100,000 square feet.

Former Chloe’s Furniture Site at 6401 Town Center Drive

The former Chloe’s Furniture property at 6401 Town Center Drive in Raleigh has sold to Dominion Self-Storage II LLC. The freestanding, 50,000-square-foot building is located on nearly 5.4 acres of land adjacent to Triangle Town Center. Senior Vice President Charlie Coyne and Vice President Christina Coffey of CBRE|Raleigh’s Retail Services team represented the seller, PNC Bank, while Senior Associate Tiffany Barrier procured the buyer.

Additionally, the former Kroger at Wakefield Commons, also in Raleigh, has been subleased to Galaxy Park LLC for the creation of a new family entertainment center called Galaxy Fun Park. The big box space, which encompasses approximately 55,760 square feet, is located off Falls of Neuse Road and co-anchors the Wakefield Commons shopping center, along with Marquee Cinemas.

Other tenants in the center include Jersey Mike’s, Papa Johns, GNC and UPS. Senior Vice President Charlie Coyne and Vice President Reagan Crabtree of CBRE|Raleigh’s Retail Services team represented Kroger in the transaction, while Jay Sprayberry of NDB Commercial represented Galaxy Park.

CBRE|Raleigh is a joint venture between local principals and CBRE Group. The firm, which serves the Triangle region, completed $1.4 billion of sales and leasing transactions in 2014.

CBRE is in fact the only global real estate services firm with offices in Norfolk, Newport News, Richmond, Charlottesville, and Fredericksburg, Va., and Raleigh and Greensboro, N.C. These offices are collectively referred to as the Mid-South region.

Image courtesy of CBRE|Raleigh