Harris Teeter-Anchored Center Sale Nears $13M

WINSTON-SALEM, NC-A $12.8-million acquisition gives DIM Vastgoed NV its fourth North Carolina shopping center. The Dutch publicly traded real estate fund paid $155 per sf for the 82,741-sf Whitaker Square Shopping Center here.

The 100%-leased Whitaker Square is anchored by a 51,890-sf Harris Teeter grocery store. The tenant roster also includes Rugged Warehouse, Allegacy Federal Credit Union, Edward Jones, Quizno’s and Greta Clips, a spokeswoman tells GlobeSt.com.

DBR & Associates represented the buyer in the deal, locating the property and negotiating the purchase contract with the seller, Whitwood, LLC. DBR also did the due diligence for the deal. The firm will manage the shopping center along with DIM Vastgoed’s 20 other properties. Berkeley Capital Advisors represented Whitwood.

“DIM Vastgoed’s overall objective is to expand its presence in the US by acquiring fundamentally sound, well-anchored real estate located within its specified geographic targets,” AJ Belt, chief operating officer of DBR & Associates says in a statement. “Whitaker Square Shopping Center fits our parameters of a ‘seasoned,’ grocery-anchored shopping center located in one of the more affluent and mature neighborhoods within the Winston-Salem MSA and we look forward to further strengthening our portfolio with additional acquisitions within North Carolina in the near future.”

According to GlobeSt.com research, DIM Vastgoed owns five stores in Florida, 10 in Georgia, one each in Tennessee, Alabama and Maryland. It made headlines two years ago when North Miami Beach-based Equity One took a 31.5% share of the fund, as GlobeSt.com previously reported.