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Sunset Lake Commons Trades for $13M

RALEIGH, N.C.-Given the lack of new inventory delivered to the market, M&M reports tremendous demand for this center from a national buyer base.

By Jennifer LeClaire | Updated on August 15, 2011

RALEIGH, NC-Sunset Lake Commons, a shopping center located in the affluent Raleigh suburb of Holly Springs, has traded for $12.8 million. Anchored by Harris Teeter, the property was built in 2005 and sits in one of the fastest growing towns in North Carolina.

Daniel A. “Sonny” Molloy, a vice president investments in the Marcus & Millichap’s Atlanta office and Brad Nathanson, a vice president investments in the firm’s Philadelphia office, represented the seller, Raleigh-based J&H of Holly Springs LLC. J&H was the original developer of the property. Nathanson and Molloy also represented the buyer, The Rosen Group Inc. M&M’s Allen Smith assisted in the transaction.

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