Investor Acquires Retail Center Near New Wegman’s Location
(Raleigh, NC – June 27, 2019) – Ram Realty, an affiliated group of companies and partnerships that acquire, develop, manage and finance retail and multifamily properties in the Southeast, acquired four retail buildings from Davidson & Jones Construction Company in Raleigh, North Carolina.
The center is located near the first Wegmans Food Markets store to open in North Carolina. The supermarket is located in the Midtown East shopping center under construction just inside the Beltline.
The lifestyle retail center, located at 2904 Wake Forest Rd ., sold for $14,000,500, or about $212.09 per square foot. Two of the four buildings were built in 1996, one in 1997 and one in 2003, totaling 66,011 square feet, according to CoStar information.
A team of HFF brokers marketed the retail center on behalf of the seller.