RALEIGH, N.C. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of a five-property portfolio of Food Lion-anchored shopping centers in the Carolinas. The assets span 248,030 square feet and include College Lakes Plaza in Fayetteville, N.C.; Eden Centre in Eden, N.C.; Kimberly Park in Carthage, N.C.; Kris Krossing in Conway, S.C.; and West Pointe Village Asheboro, N.C.
Raleigh-based Genesis Properties purchased the portfolio from Richmond-based Capital Square for an undisclosed price. Dean Zang and David Crotts of IPA, along with Zach Taylor of Marcus & Millichap, represented the seller and procured the buyer in the transaction. Ben Yelm and Donald Gilchrist served as Marcus & Millichap’s brokers of record in South Carolina and North Carolina, respectively, in the deal.