Dilweg Announces Sale of Two Retail Centers

DURHAM, N.C. (Jan. 30, 2017) – Commercial real estate investment firm, The Dilweg Companies, announced today the sale of two retail centers, Hickory Corners and Newmarket South. The properties traded in separate transactions.

Hickory Corners, a 180,000 square-foot retail center, located in Hickory, NC, was 99 percent leased at the time of sale. Anchor tenants include Conn’s Furniture, Toys R Us, Hamrick’s and Office Max.

Newmarket South is located in Hampton Roads, VA and consists of more than 350,000 square feet. The retail center was 77 percent leased at the time of sale. Anchor tenants include Food Lion, The Dump and Rainbow Shoppes.

“The sales of our last two remaining retail centers allow us to fiercely focus on what we are now primarily built for, enhancing office assets in the Southeast,” said Anthony Dilweg, CEO of the Dilweg Companies. “We will continue to pursue our strategy to divest out of non-core properties, as we robustly expand our Southeast office portfolio.”

Dilweg recently acquired several local office buildings including Regency Lakeview in Cary and Quadrangle Office Park in Durham. The firm owns 1.8 million square feet in the Raleigh-Durham metro and nearly 6 million square feet in the Southeast.

About The Dilweg Companies

The Dilweg Companies is a full-service commercial real estate investment firm based in Durham, North Carolina. Since its launch in 1999, 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 $1 billion in assets and more than 9.6 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.