Illinois Company Acquires Cary Park Town Center for $25 Million

8/17/17

By Chris Roush, NC BIZ News

An Illinois real estate company has acquired Cary Park Town Center, a strip mall that includes a Harris Teeter grocery store, for $25 million.

The 93,000-square-foot center also includes a CVS Pharmacy, Dunkin’ Donuts, Subway, Great Clips, and Mathnasium.

The purchaser, InvenTrust Properties Corp., is an owner and manager of 88 multi-tenant retail properties, representing 15.7 million square feet of retail space.

“We are excited by the opportunity that this transaction provides to further enhance our presence in our target market of Raleigh,” said InvenTrust Chief Investment Officer Michael E. Podboy in a statement.

The company has eight properties in North Carolina, including Renaissance Center in Durham and Bent Tree Plaza and The Pointe at Creedmoor in Raleigh.

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