Alderley Plaza was a Bi-Lo Supermarket-based centre, originally developed 25 years earlier and was in need of refurbishment and expansion. Capital Transactions contracted to acquire the centre with a view to expanding the supermarket, refurbishing the centre and adding additional specialty shops.
The end value was in the order of $14 million and the project was on-sold to a private investor. At the time of sale approximately 15 of the 20 pecialty shops had been pre-committed and the project was some 12 months away from completion.
