Monday, September 5, 2016

HFF secures $23.275 million financing for grocery-anchored retail power center in Wilson, NC

Heritage Crossing3401 Raleigh Road Parkway West, Wilson, NC

Travis Anderson
CHARLOTTE, NC –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $23.275 million in acquisition financing for Heritage Crossing, a 311,030-square-foot, fully-occupied, grocery-anchored retail power center in Wilson, North Carolina.    

HFF worked on behalf of the borrower, a partnership between Collett Capital, Return Holdings and SilverCap Partners, to place the five-year, floating-rate loan with Bank of North Carolina.  Loan proceeds were used to purchase the property.

Completed in 2006, Heritage Crossing is anchored by Harris Teeter, Ross Dress for Less, Marshalls, Best Buy, Belk, Bed Bath & Beyond and PetSmart and is shadow-anchored by Target.

The 100-percent-leased retail center is also home to national and regional tenants, including Starbucks, Rue 21, Five Below, Payless, Kay Jewelers, Moe’s Southwest Grill, Subway, AT&T Wireless, Cato and GNC.

 Heritage Crossing is located at 3401 Raleigh Road Parkway West in Wilson, a community approximately 50 miles east of downtown Raleigh and 40 miles west of Greenville.  The center is situated at the heavily-trafficked intersection of Raleigh Road Parkway and Airport Boulevard, which has a combined traffic count of more than 40,000 vehicles per day. 

Cory Fowler

The HFF debt placement team representing the borrower was led by senior managing director Travis Anderson and associate director Cory Fowler

“Proven by its strong national tenant lineup and 100-percent occupancy, Heritage Crossing is regarded by many as the best location in town, as it is positioned along two major thoroughfares with excellent visibility,” said Fowler.

 “This strong partnership and asset will be further enhanced by Collett’s unique understanding of the property’s strengths and previous working relationships with the tenants, as Collett developed the center in 2006.”

 For a complete copy of the company’s news release, please contact:

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 |

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