HT-ANCHORED CENTER SELLS FOR $13M
Sunset Lake Commons, an 80k SF Harris Teeter-anchored shopping center in the Raleigh suburb of Holly Springs, just sold for almost $13M. Matthews-based HT is a 205-store, publicly traded grocery chain operating in eight states—its '10 sales topped $4.1B. ?Sunset Lake Commons is 97% occupied, which speaks to the desirability of the market and to the advantage of being a co-tenant with one of the most successful grocery store operations in the Mid-Atlantic,? Marcus & Millichap?s Sonny Molloy tells us. Sonny, at Millichap?s Atlanta office, and Brad Nathanson, a VP in the company's Philadelphia office, repped the seller, the original developer of the property, Raleigh-based J&H of Holly Springs. Sonny and Brad also repped the buyer, The Rosen Group. Allen Smith, Marcus & Millichap?s broker of record for NC, assisted in the transaction.