“Most investors are demanding infill type locations or at least locations where you’ve got good demographics with good density and higher income,” Reid says. “Those are locations where the tenants continued to do well through the downturn and where they are demanding to be going forward. It’s a flight to quality.”

Located at 14460 New Falls of Neuse Rd., Wakefield Commons was originally built in 2000 and renovated in 2005. The property is 86% leased to tenants including Kroger, Marquee Cinemas and Starbucks.

HFF also marketed Village Shoppes of Flowerly Branch on behalf institutional investors advised by J.P. Morgan Asset Management - Global Real Assets. Kimco Realty Corp. purchased the center and assumed an existing mortgage loan.

Village Shoppes of Flowery Branch is located at 5900 Spout Springs Road close to the Interstate 985/Spout Springs Road interchange. Completed in 2002, the 92% leased property is anchored by Publix.

“If you look at grocery tenant sales in the downturn, most have stayed relatively steady or increased over the last couple of years,” Reid says. “That leads you to believe that traffic into the shopping center has stayed steady and should continue to improve. Certainly if you are concerned at all about inflation or the cyclical nature of the economy, grocery-anchored centers should be a relatively safe investment going forward.”