DOWNERS GROVE -- InvenTrust Properties Corp. said it has acquired Commons at University Place, in Durham, N.C., for $23.25 million.
The a 92,100 square foot retail center is anchored by Harris Teeter and CVS. It is an established center in a high-trafficked area in proximity to Duke University, the Research Triangle Park and other IVT-owned assets. The property features numerous shops and restaurants as well as a new Harris Teeter fuel station
"With the acquisition of Commons at University Place, we are building on our North Carolina portfolio," said Christopher Covey, Senior Vice President of Transactions for InvenTrust. "Recently renovated, University Place has a solid base of diverse, long-term tenants and is experiencing strong leasing momentum. This acquisition supports InvenTrust's grocery-anchored strategy to invest in the right centers in the right markets."