The MacGregor Village shopping center in Cary has been purchased by a group of investors, including Blue Ridge Capital Fund, AB&B Commercial Real Estate, and Triland Commercial. The sale price for the 138,000-square-foot retail center was $30 million.
The seller was Washington Prime Group Inc., based in Columbus, Ohio. According to reports from the Triangle Business Journal, the company filed for Chapter 11 bankruptcy in 2021. Yezen Hamad and Gregg Marks of Triland Commercial represented the new owners during the sale process while Tom Kolarczyk and Steele Burkett of JLL represented Washington Prime.
Built in 1986 with six buildings on site, MacGregor Village boasts a diverse mix of popular restaurants and entertainment options such as Gamers Geekery & Tavern ,MacGregor Draft House,Cilantro Indian Cafe,and Asali Desserts & Cafe . Additionally,it is home to X-Golf Cary (an indoor golf venue), SportHQ (a sports training facility),and Game On Escapes & More(an escape room). A new addition to its tenant list is Apex Racing Lab where visitors can experience simulated race car driving. Furthermore,a major pickleball operator has also expressed interest in leasing space at MacGregor Village.
This recent transaction highlights how an entertainment-focused retail center like Macgregor Village can attract significant investment despite challenging market conditions.The acquisition demonstrates confidence from investors towards this type of property asset class within North Carolina’s commercial real estate market.
