Jeffery Edison Of Phillips Edison & Company Acquires Retail Parcels From The Widewaters Group For $16.8M

4401 New Bern Avenue & 4551 New Bern Avenue

$16,800,000

Building Size

—

Asset Type

Retail

Closing

May 19, 2025

AI

The transaction involved the sale of retail property located at 4401-551 New Bern Avenue in Raleigh, NC. The property was acquired for a total of $16,800,000, representing a strategic addition to the buyer's portfolio of grocery-anchored shopping centers.

Summary of transaction details:

Property Type: Retail
Transaction Amount: $16,800,000
Buyer: Jeffery Edison - Phillips Edison & Company
Seller: The Widewaters Group
Broker: Andrew Margulies, Patrick Barratt & Harrison Creason - Marcus & Millichap

This transaction highlights the involvement of Phillips Edison & Company, which has expanded its holdings with this acquisition of six retail parcels in Raleigh’s New Bern Plaza, enhancing its focus on grocery-anchored shopping centers.

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