Original developer sells roughly 50-year-old shopping center in Raleigh

Denver firm buys Walmart-anchored Townridge Shopping Center

Townridge Shopping Center sits along Glenwood Avenue inside Raleigh's I-540 beltline. (JLL Capital Markets)

By Brian Irwin with

CoStar Research

August 18, 2026 | 8:28 P.M.

A Walmart-anchored shopping center in Raleigh, North Carolina, has sold for the first time since it was developed roughly half a century ago.

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Properties
- 6600 Glenwood Ave, Raleigh, NC
- 6500 Glenwood Ave, Raleigh, NC
- SunTrust
  4208 Pleasant Valley Rd, Raleigh, NC
- Townridge Shopping Center
  6512 Glenwood Ave, Raleigh, NC
- 6602 Glenwood Ave, Raleigh, NC
Companies
- Armstrong Capital Development
  Real Estate
- Zeisler Morgan Properties, Ltd.
  Construction
Contacts
- Ward Smith
  Portfolio Specialist, JLL
- Thomas Kolarczyk
  Senior Director, JLL
- Brian Page
  Director, JLL
- Travis Anderson
  Senior Managing Director, Carolinas Office Co-Head, JLL
- Michael Nieder
  Senior Director, Capital Markets, JLL