(For more retail coverage, click GlobeSt.com/RETAIL.)
DURHAM, NC-Two retail assets in the state have changed owners, joining Casto's growing retail portfolio in North Carolina. Renaissance Village and Stone Creek Village total 364,064 sf.
A spokeswoman for Columbus, OH-based Casto declined to reveal the acquisition price, but she did tell GlobeSt.com the company is continuing to look to acquire and develop assets in the Southeast. "As we focus our growth efforts in the Southeastern US, these properties are in high growth areas with attractive demographics," she explains.
Renaissance Village is a 296,645-sf center with at Interstate 40 and Renaissance Parkway in Durham. National tenants include Michaels, HomeGoods and Petco. It also features a 174,400-sf SuperTarget, according to Casto. The property has 25,430 sf of retail space and approximately 12,000 sf of office space available, the spokeswoman tells GlobeSt.com.
Stone Creek Village is at the intersection of High House Avenue and Davis Road in Cary. It currently features a 48,824-sf Harris Teeter and two outparcel tenants, Chick-Fil-A and Walgreens, totaling 18,595 sf. The remaining portion of the center is under development and will include 60,000 sf of retail space. Stone Creek's first phase is 100% occupied, Casto's spokeswoman adds.
The two-property buy adds to Casto's more than one-million-sf portfolio in the Carolinas. The company also owns University Commons in Burlington, Hanes Point in Winston-Salem, University Place in Charlotte and Morrison in Charlotte.
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