Key Takeaways
- • Blue Ridge Capital Fund acquired MacGregor Village, a 138,276-square-foot retail property in Cary, NC, for $30.24 million, marking the fund's second and flagship investment since its Q1 2024 launch.
- • The property is strategically positioned at the intersection of US Highway 1 and US Highway 64, south of MacGregor Downs Country Club, with an established tenant roster including Gamers Geekery & Tavern, Orangetheory Fitness, Sola Salons, X-Golf, SportsHq, Apex Racing Lab, Wasabi, and MacGregor Draft House.
- • A major pickleball operator has signed a letter of intent at the property, signaling expansion potential and diversification of the retail and leisure tenant mix.
- • Triland CRE, Blue Ridge Capital Fund, and AB&B Commercial Real Estate are collaborating to execute strategic planning and development initiatives to maximize the asset's value and community positioning.
Summary
Blue Ridge Capital Fund (BRC Fund) has completed the acquisition of MacGregor Village, a premier retail property located at 107 Edinburgh South Drive in Cary, North Carolina, for $30.24 million. Announced on June 10, 2024, this transaction represents the fund's second major investment and its flagship property since launching operations in the first quarter of 2024, establishing a significant milestone in the fund's portfolio development strategy.
The 138,276-square-foot retail property occupies a strategically advantageous location at the intersection of US Highway 1 and US Highway 64, positioned just south of MacGregor Downs Country Club. This high-traffic corridor location provides substantial visibility and accessibility within the Cary market. The property features a diverse and complementary tenant base spanning retail, dining, fitness, and entertainment categories, including Gamers Geekery & Tavern, Orangetheory Fitness, Sola Salons, X-Golf, SportsHq, Apex Racing Lab, Wasabi, and MacGregor Draft House. Additionally, a major pickleball operator has executed a letter of intent at the property, indicating the asset's appeal to emerging recreational and lifestyle segments.
Yezen Hamad, Principal and Broker-In-Charge at Triland CRE, expressed confidence in the property's tenant mix and long-term prospects, noting personal familiarity with MacGregor Village dating back more than two decades and expressing belief in its future growth potential. The acquisition is being executed through coordinated efforts among Triland CRE, Blue Ridge Capital Fund, and AB&B Commercial Real Estate, with all parties committed to strategic planning and development initiatives designed to optimize the property's performance and enhance its market position within the Cary retail landscape.
The 138,276-square-foot retail property occupies a strategically advantageous location at the intersection of US Highway 1 and US Highway 64, positioned just south of MacGregor Downs Country Club. This high-traffic corridor location provides substantial visibility and accessibility within the Cary market. The property features a diverse and complementary tenant base spanning retail, dining, fitness, and entertainment categories, including Gamers Geekery & Tavern, Orangetheory Fitness, Sola Salons, X-Golf, SportsHq, Apex Racing Lab, Wasabi, and MacGregor Draft House. Additionally, a major pickleball operator has executed a letter of intent at the property, indicating the asset's appeal to emerging recreational and lifestyle segments.
Yezen Hamad, Principal and Broker-In-Charge at Triland CRE, expressed confidence in the property's tenant mix and long-term prospects, noting personal familiarity with MacGregor Village dating back more than two decades and expressing belief in its future growth potential. The acquisition is being executed through coordinated efforts among Triland CRE, Blue Ridge Capital Fund, and AB&B Commercial Real Estate, with all parties committed to strategic planning and development initiatives designed to optimize the property's performance and enhance its market position within the Cary retail landscape.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.