Mayfaire Community Center sold in $56.3M deal
WILMINGTON, NC (WECT) - Mayfaire Community Center is once again changing hands after being sold for the second time in less than six months.
Tennessee-based CBL & Associates Properties announced Monday that it sold the Mayfaire Community Center to Principal Real Estate Investors for $56.3 million.
The 210,000-square-foot center is located adjacent to Mayfaire Towne Center.
"[Mayfaire Community Center] is the premier grocery anchored center in the Wilmington market with best in class tenants such as Harris Teeter, Dick's Sporting Goods, Marshalls, Panera Bread, and Wells Fargo," said Jim Halliwell, managing director for Principal Real Estate Investors. "The "Mayfaire" brand is very powerful in the market and the live, work, play atmosphere of the Mayfaire mixed-use development provides exceptional demand drivers and truly creates a "sense of place" for patrons."
CBL purchased both properties back in June for $192 million.
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