The Hampshire Companies Acquire 160,949-Square-Foot Retail Shopping Center in Raleigh, NC in Joint Venture with Westdale RECap Partners

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The Hampshire Companies, a full service, private real estate investment firm with equity in assets valued at over $2.5 billion, in a joint venture with Westdale RECap Partners has announced the acquisition of the Wakefield Commons Shopping Center.

The Hampshire Companies, a full service, private real estate investment firm with equity in assets valued at over $2.5 billion, in a joint venture with Westdale RECap Partners has announced the acquisition of the Wakefield Commons Shopping Center. The 160,949-square-foot retail property located at 14460 New Falls of Neuse Rd, in Raleigh, N.C. was purchased from a joint venture between Centro Properties and JP Morgan.

Anchored by Kroger, the nation's largest traditional grocery retailer, Marquee Cinema's, Starbuck's, and GNC, Wakefield Commons Shopping Center is situated on more than 24 acres and is strategically located at the intersection of Capital Boulevard (U.S. 1) and New Falls of Neuse Road at the gateway to Wakefield Plantation, a 2,200 acre master planned community of single-family and townhome subdivisions. With a daily traffic count of 46,000 vehicles a day, the shopping center offers excellent visibility and easy access with ample parking. Currently 86% leased, 22,088 square feet of prime retail space is available for lease at the center.

“With several strong-credited, national tenants anchoring the space and providing a loyal customer base, this was an excellent opportunity to expand our retail portfolio and partner with Westdale RECap Partners,” said Patricia Krasowksi, an Investment Manager for The Hampshire Companies. “In addition to the plaza’s high occupancy rate, the property’s premier location in a highly traveled, densely populated area added additional benefit.”

Jim Hamilton and Richard Reid of Holliday Fenoglio Flower, LP represented the seller in the transaction.

About The Hampshire Companies
The Hampshire Companies is a full-service, private real estate investment firm based in Morristown, N.J. The Hampshire Companies is a vibrant, dynamic organization that combines creative vision and superior execution, thereby enabling it to create and enhance value in real estate investments. Additional information on The Hampshire Companies is available online at http://www.hampshireco.com.

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Tiffany Miller
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