Investor Acquires Retail Center Near New Wegman’s Location
(Raleigh, NC ) – 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.
Florida-based real estate firm has acquired a lifestyle center on Wake Forest Road near the first Wegmans Food Markets store planning to open in 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.
About Ram
Ram Realty Advisors LLC acquires and develops retail, multifamily, and mixed-use properties in select high-growth markets throughout the Southeast. The investments are capitalized by Ram-sponsored discretionary private equity funds and institutional co-investment vehicles. Since 1996, Ram has deployed in excess of $3.2 billion of capital. Ram and its predecessor entities were founded in 1978. The Company is headquartered in Palm Beach Gardens, Florida, and has offices in Charlotte and Chapel Hill, North Carolina.
Media Contact
Kelly Owens Alchemy Communications Group ko@alchemycommgroup.com office: 561.935.9953 x. 101 mobile: 561.222.4958
Jennifer Stull Ram Realty Advisors jstull@ramrealestate.com.com office: 561-630-6110