Dec
02

Two North Carolina Retail Centers Sold

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Kimco Realty Inc. of New Hyde Park, N.Y., purchased the 132,400-square-foot center from an affiliate of Hawthorne Retail Partners of Charlotte. Brennan Station is located at 8111 Creedmoor Road in Raleigh.

Hawthorne also sold a Harris Teeter-anchored shopping center in Cornelius to Kimco as part of the same transaction, according to Hawthorne spokesman Shoffner Allison. The two deals totaled $42.7 million.

Hawthorne had purchased the Brennan Station center in 2007 for $19.5 million, according to Wake County deed records. The company also completed a substantial renovation and retenanting of the shopping center, which was 96 percent occupied at the time of the property sale to Kimco.

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