Updated May 12, 2025
RCG Ventures Acquires Retail Property In Raleigh From Global Net Lease For $29.55M
3630 Sumner Boulevard
$29,550,000
$192/SF
Building Size
153,350 SF
Asset Type
Retail
Closing
Apr 8, 2025
About this deal
AI
The retail property located at 3630 Sumner Boulevard in Raleigh, NC, was sold for $29,550,000. The asset spans 14.4 acres and encompasses a total of 153,350 square feet. The price per square foot for the transaction was $193. The property notably includes five buildings and has an assessed value of $26.62 million. This site was previously sold for $28.4 million in 2022.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $29,550,000
- Buyer: RCG Ventures
- Seller: Global Net Lease, Inc.
- Sale Date: 04/08/2025
- Market: Raleigh, NC
- Acres: 14.4
- Square Footage: 153,350
- Price per Square Foot: $193
Key tenants of the Triangle Town Place include Dick’s Sporting Goods and Nordstrom Rack, contributing to the property's appeal. This transaction reflects the ongoing activity and investment interest in the Raleigh retail market.
On the Map
$29,550,000
$192/SF
Retail
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Players
Raleigh Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.54%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93