Baltimore Real Estate Development and Management Company Purchases Retail Property for $6.3 Million
Continental Realty Corp., a Baltimore-based real estate development and management company, acquired its first North Carolina property with the purchase of the Creekside Crossing for $6.3 million, or about $98 per square foot from Wells Fargo Bank.
The 63,909-square-foot property is located at 404 Six Forks Road in Raleigh, NC. It was constructed in 1999 inside the I-440 corridor. At the time of the sale, the property was 70 percent occupied. Staples is the anchor tenant, but the retailer will soon vacate the shopping center. Other tenants include Dollar Tree, Curves, and Jumbo China Restaurant.
Mike Burkard and Steve Shields of CBRE represented the seller in the transaction.
Please see CoStar Sales Comp #3060045 for more information on this transaction.