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CBL Venture's $90M Buys Renaissance Center

DURHAM, NC-The 93%-occupied, mixed-use development was completed in 2007 by Midland Atlantic Development.

By Natalie Keith | Updated on February 12, 2008

DURHAM, NC-A joint venture of Chattanooga, TN-based CBL & Associates and Teachers Retirement System of the State of Illinois has acquired the 70-acre Renaissance Center mixed-use development at Interstate 40 and Fayetteville Road for $90 million. The seller was Cincinnati-based Midland Atlantic Development, which developed the property beginning in 2004.

The project–which features retail, restaurants, 120 apartments and 56,000 sf of class A office–was completed in 2007. Starmount Co. leased and managed the property. “Our development of the Southpoint area has been a terrific experience,” says Midland Atlantic managing principal John Silverman, in a prepared statement.

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