Franklin Street, one of the fastest-growing full-service commercial real estate firms in the Southeast, arranged the sale of Clayton Town Center in the Clayton submarket of Raleigh, N.C. Franklin Street’s Bryan Belk and John Tennant represented the seller, Sand Capital of Scottsdale, Ariz., in the transaction. Raleigh-based Raleigh Creekside Crossing, LLC acquired the property for $7.275 million.
“We had a large number of investors interested in this retail center due to its proximity to Raleigh and upside in leasing,” says Belk, senior director of retail investment sales at Franklin Street’s Atlanta office. “Raleigh has consistently been one of the strongest growth metros in the country. The area’s steady job and population growth has attracted interest from buyers across the country to the market.”
Clayton Town Center is located at 813 Town Centre Boulevard just 10 miles southeast of downtown Raleigh. The newly renovated property is shadow-anchored by a Walmart and totals 70,682 square feet. Built in 2003, the shopping center features a tenant line-up of national names including Dollar Tree, Sally Beauty, H&R Block, Liberty Tax, Cricket Wireless and Maurices.
About Franklin Street: Founded in 2006 during one of the toughest real estate climates, Franklin Street focused on delivering value-added solutions to meet the evolving needs of clients. Through a collaborative philosophy of leveraging the resources, expertise and experience of each of its divisions – Investment Sales, Tenant and Landlord Representation, Capital Advisory, Insurance, Property Management and Project Management – Franklin Street offers unmatched value and optimal solutions for clients nationwide. Learn more about Franklin Street at FranklinSt.com.
About Sand Capital: Sand Capital is a privately held real estate investment company controlled by the principals of Sandor Development Company, one of the largest privately held retail developers in the United States. Sandor Development was founded in 1963 and owns over 8 million square feet of shopping centers in 25 states throughout the country.