10-29-2013 03:08 PM

Best Buy shopping center in Aberdeen sells for $20M

A retail center anchored by Best Buy in Moore County has been sold.

The local owners of the Aberdeen Commons shopping center near Pinehurst have sold the property to a New York real estate investment group for $20.24 million.
Aberdeen Commons, a 121,785-square-foot shopping center, opened in 2006 with a tenant mix that includes Best Buy, Bed Bath & Beyond, PetSmart, Rack Room Shoes, Kirkland Stores and Panera Bread.
The seller was an investor group led by James Kirkpatrick based in the Moore County community of West End.
The buyer was the New York firm The Rosen Group, which already owns several other retail centers in North Carolina, including the Sunset Lake Commons shopping center in Holly Springs. Berkeley Capital Advisors of Charlotte represented The Rosen Group in the deal.
The property has a tax value of $20 million, according to Moore County records.
Amanda Jones Hoyle covers commercial and residential real estate. Follow her on Twitter @TBJrealestate

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