In 2015, Buligo Capital acquired its first grocery-anchored retail property, an 86K SF shopping center situated in Durham, North Carolina. The shopping center, anchored by Food Lion and Dollar Tree, represented a value-add opportunity through the lease-up of 4,400 SF of vacant space and rent increases.
The property is located half a mile from Research Triangle Park, home to top-tier research universities and a corporate presence focused on life sciences and technology. It is the largest such park in the U.S. with over 39,000 workers and 170 companies. The prime location is directly accessible via Interstate-40 and other regional highways.
Parkwest Crossing was held for over seven years and sold following the ongoing execution of the investment strategy. The project highlights Buligo Capital’s approach to retail investments centered on well-located, grocery-anchored properties and disciplined asset management.
