Northpond Partners, operating as NP Preston Corners LLC, has acquired the Preston Corners shopping center in Cary, NC for $13.2 million from Canadian insurance company Sun Life Assurance Co. of Canada who had owned it since 1995 and remodeled it in 2001. The 42,755 square feet of retail space located on 8.54 acres at 940 High House Road near Fred G. Bond Park and Prestonwood Country Club is anchored by Lowes Foods with other tenants including Kung Fu Tea, Loren Dean Designs, Miso Ramen Bar , Skrimp Shack , and The Little Gym of Cary .
Northpond’s other projects in the area include retail redevelopment in Glenwood South , South Hills Mall , and Gateway Plaza in Raleigh . Last year they purchased five lots for $31 .5 million at Falls River Town Center also located within Raleigh city limits .
This acquisition marks another successful real estate investment project by Northpond Partners based out of Chicago IL
