CARY, N.C. — A partnership between an affiliate of New York City-based Mack Real Estate Group (MREG) and Soundwater Properties has purchased Maynard Crossing, a grocery-anchored shopping center in Cary, a suburb of Raleigh. Built in 1996, the 122,901-square-foot property is located at the intersection of High House and N.W. Maynard roads.
Maynard Crossing was 88 percent leased at the time of sale to tenants including Harris Teeter, Workout Anytime, Doctors Express, Riccobene Family Dentistry, Brigs Restaurant, Kathmandu Kitchen and All American Swim Supply, as well as a newly built outparcel gas station.
Tom Kolarczyk, Danny Finkle, Jim Hamilton and Steele Burkett of JLL represented the undisclosed seller in the transaction. The sales price was not disclosed. MREG and Soundwater Properties will pursue their grocery-anchored retail acquisition strategy in markets throughout the East Coast.