Weingarten Realty Investors acquired 25 acres of land in Wake Forest, NC, most of which are outparcels to the Wake Forest Shopping Center.
Gibraltar Capital and Asset Management sold the vacant land for $5.6 million, or about $220,000 per acre. The largest parcel surrounds the Kohl’s location in the shopping center, and other parcels are at the corner Capital Blvd. and Stadium Dr.
Banks Hunter of Hunter & Associates represented the seller.
Please see CoStar COMPS #3043431 for more information on this transaction.