Business

July 7, 2014

Seaboard retail center sold for $4.6M

The recently renovated retail center adjacent to Seaboard Station in Raleigh has been sold for nearly $4.6 million, according to Wake County property records.

The recently renovated retail center adjacent to Seaboard Station in Raleigh has been sold for nearly $4.6 million, according to Wake County property records.

The buyer was a Florida-based investor, 44 Walker LLC. The seller was a partnership that included George York and his father, former Raleigh Mayor Smedes York.

The partnership purchased the 111 Seaboard Ave. property in November 2006 for $2.15 million. Today its tenants include Bad Daddy's Burger Bar, Sola Salon Studios and Capstone Cleaners.

In late October, William Peace University purchased the 92,000-square-foot Seaboard Station retail center for $20.75 million purchase price. The center is adjacent to William Peace’s campus. Tenants in the nearly 100 percent leased center include Tyler's Taproom, O2 Fitness, 18 Seaboard, Ace Hardware and the pet supply store Phydeaux.

York Properties, the company run by Smedes and George York, was among the parties interested in Seaboard Station before William Peace put it under contract.

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