Business

InvenTrust acquires Raleigh retail center for $25 million

Posted August 21, 2017 1:00 am

Business Wire

DOWNERS GROVE - InvenTrust Properties Corp. has acquired Cary Park Town Center, a 93,000 square foot Harris Teeter-anchored center located in Raleigh, N. Carolina, for $25 million.

Cary Park Town Center is located 15 miles west of downtown Raleigh. The center features national tenants including Kroger's Harris Teeter grocery brand, CVS Pharmacy, Dunkin' Donuts, Subway, Great Clips, and Mathnasium.

"We are excited by the opportunity that this transaction provides to further enhance our presence in our target market of Raleigh," said Michael E. Podboy, executive vice president - chief financial officer, chief investment officer of InvenTrust. "Anchored by Harris Teeter, the number one grocer in the region, this is an accretive acquisition that underscores our strategy of owning strong retail assets in growing Sun Belt markets."

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