Entertainment-Centered Cary Retail Center Flips for $30M
Cary’s MacGregor Village shopping center has been acquired by the investor trio of Blue Ridge Capital Fund, AB&B Commercial Real Estate and Triland Commercial. The group paid $30 million for the 138,000-square-foot retail center at 107 Edinburgh South Drive.
Washington Prime Group Inc. of Columbus, Ohio, was the seller. The Triangle Business Journal reports the firm filed for Chapter 11 bankruptcy in 2021. Yezen Hamad and Gregg Marks with Triland Commercial represented the new ownership in the sale of MacGregor Village, while Tom Kolarczyk and Steele Burkett with JLL represented Washington Prime.
Built in 1986, MacGregor Village consists of six buildings and has a robust list of restaurant and entertainment tenants, including Gamers Geekery & Tavern, MacGregor Draft House, Cilantro Indian Cafe, Asali Desserts & Cafe and more. It’s also home to indoor golf venue X-Golf Cary, sports training facility SportHQ, and escape room Game On Escapes & More. One new tenant is Apex Racing Lab, where visitors can drive simulated race cars. A large pickleball operator has signed a letter of intent at MacGregor Village.
