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Dilweg Purchases Shoppes at Greenway Retail Property

RALEIGH, N.C. (Apr. 11, 2013) – The Dilweg Companies closed Friday on the purchase of the Shoppes at Greenway, a neighborhood retail center located just outside of I-540 in Northeast Raleigh, at 7500 Ramble Way.

Sitting on 9.47 acres, the Shoppes at Greenway is home to four buildings, two outparcels and two additional areas available for future development. Three buildings are currently occupied by O2 Fitness, Sherwin Williams, Family Eye Care Center and Barnes Chiropractic. The fourth building is available for lease. Combined the four buildings equate to a total of 32,727 square feet. The two additional areas total 11,875 square feet of space for potential expansion.

The property was built in 2007. It is located in one of Raleigh’s fastest growing communities, near the intersection of Louisburg Rd. and Perry Creek Rd. The Shoppes at Greenway is less than a mile away from Wake Technical Community College on Highway 401.

“From several vantage points, this property has tremendous potential. Its location in a dynamic commercial corridor, access to growing residential areas, strong existing tenant mix and opportunity for additional development on site were all attractive to us,” said Anthony Dilweg, chairman and CEO of the Dilweg Companies. “Greenway is a great addition to our retail portfolio.”

The Shoppes at Greenway is the Dilweg Companies’ third acquisition in the Triangle in the last year. Additionally, Dilweg purchased two office properties that include six buildings and more than 148,000 square feet. The Company also expanded its reach in 2012 with acquisitions in the greater Atlanta area.

About The Dilweg Companies

The Dilweg Companies is a full-service commercial real estate firm based in Durham, North Carolina. Since its launch in 1997, Dilweg has gained broad experience in the acquisition, development and operation of office, retail, warehouse/flex, multifamily and self-storage properties. Dilweg’s investors have sponsored over $510 million in asset value and more than 6 million square feet throughout North Carolina, South Carolina, Virginia and Georgia. For more information, please call (919) 402-9100 or go to www.dilweg.com.