Invesco Acquires Knightdale Marketplace Retail Center From M&J Wilkow For $86.7M

The property involved in the transaction is the Knightdale Marketplace, a retail asset located at 1006 Shoppes At Midway Drive, Knightdale, NC. The sale price of the asset was $86,700,000. The shopping center was acquired by Invesco from M&J Wilkow, who had purchased it for $43,600,000 in 2019. The sale indicates a substantial appreciation in value and reflects ongoing institutional interest in retail properties amid a constrained supply in the market.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $86,700,000
• Buyer: Andrew Schlossberg - Invesco
• Seller: Marc Wilkow - M&J Wilkow
• Brokers: Tom Kolarczyk - JLL

This transaction highlights the competitive nature of the retail market, as it was achieved following a bidding war. Invesco intends to retain M&J Wilkow as the property manager, while Foundry Commercial will oversee leasing activities for the shopping center.