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Investor sets sights on Raleigh shopping center

Investor sets sights on Raleigh shopping center

In what will create new South Carolina business opportunities, a local investment firm just purchased the retail center in Raleigh know as North Market Square. The 33,990-square-foot shopping center has been operating in the area for over 25 years.

“An affiliate of South Coast Commercial LLC of Bluffton, S.C., paid $3.5 million for the retail center, according to Wake County records. The seller was Raleigh-based Oberlin Endeavors LLC.” At the time of sale, North Market Square leased property accounted for 90 percent of the total area.

Located on Old Wake Forest Road near the Falls of Neuse Road intersection, North Market Square primarily houses restaurants and specialty shops with local roots.  The center’s major tenant, Kanki Japanese Steakhouse has stood open since the retail center launched in the mid 1980’s. Other popular businesses in the space include retailers like The Good Feet Store, Bra Patch, Cosmo Prof and Stringers Tennis.

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