Capital Marketplace, a 383,000 SF shopping center on Capital Boulevard, has sold for approximately $80.6 million to Principal Financial Group.
The center is anchored by tenants including BJ’s Wholesale Club, Burlington, and ParTee Shack, and sits in an area that has recently seen significant discussion around retail vacancies and redevelopment near Triangle Town Center.
According to the seller, occupancy increased to 97.5% following leasing and asset management efforts, highlighting continued investor interest in well-located, grocery and value-oriented retail assets.
Takeaway: Despite ongoing challenges facing certain retail corridors, institutional capital continues to target stabilized shopping centers with strong anchor tenants and long-term income streams.
It will be interesting to watch how both Capital Marketplace and the broader Capital Boulevard/Triangle Town Center area evolve over the next several years.
