Triangle Town Place, a 14.4-acre property at 3630 Sumner Blvd. in Northeast Raleigh, was sold for $29.55 million. RCG Ventures was the buyer, and Global Net Lease, Inc. was the seller. Built in 2004, the five buildings have a total of 153,350 square feet.
Among the key tenants at Triangle Town Place; Dick’s Sporting Goods, Designer Shoe Warehouse, Dollar Tree, Nordstrom Rack and a roomy space vacated by the now-bankrupt Party City.
The Triangle Business Journal reports that the property’s total assessed value is $26.62 million. The site was last sold in 2022 for $28.4 million.
Founded in November 2003, RCG has steadily grown its portfolio through direct and joint venture investments. Over the past twenty years, RCG has acquired 190 properties in 30 states, representing a total Invested Capital of over $1.5 billion.
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