Friday, November 20, 2009

HFF closes $5.4M sale of Harris Teeter in Wilmington, NC


ATLANTA, GA – The Atlanta office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has closed the sale of a 57,230-square-foot, free-standing Harris Teeter in Wilmington, North Carolina.

HFF directors Jim Hamilton (top right photo)  and Richard Reid (bottom left photo) and associate director Kevin Hurley marketed the property on behalf of the seller, Inland Western REIT. Lake Davidson Village, LLC, an affiliate of Chen Development, LLC, purchased Harris Teeter for $5.4 million.

Harris Teeter is located at 820 South College Road close to Routes 76 and 74, The University of North Carolina at Wilmington, and Wrightsville Beach in Wilmington. The property is situated on nearly five acres and is fully leased to Harris Teeter through 2015.

Inland Western Retail Real Estate Trust, Inc. is a self-managed real estate investment trust that acquires, manages and develops a diversified portfolio of real estate, primarily multi-tenant shopping centers across the United States.

 As of June 30, 2009, Inland’s portfolio under management totaled in excess of 49 million square feet, consisting of 301 wholly-owned properties.

They also have interest in 12 unconsolidated operating properties and 17 properties in 7 development joint ventures. For further information, please see the company website at www.inlandwestern.com.

Contacts:

Jim Hamilton, HFF Director, (404) 942-2212, jhamilton@hfflp.com
Richard Reid, HFF Director, (404) 942-2209, rreid@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

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