Local News

Atlanta-Based Company To Buy Raleigh Shopping Center

Posted October 23, 2001 2:05 a.m. EDT

— Two years after hitting the market, Cameron Village may finally have a new owner.

Branch Properties, an Atlanta-based shopping center owner and manager, signed a letter of intent to buy the 52-year-old center in Raleigh, which is one of the oldest in the Southeast.

Richard Ross, Branch's chief financial officer, said the company will spend the next 30 days studying the deal and the 650,000-square-foot property. The company's property managers and partners will be in Raleigh this week to talk to shop owners within the shopping center as well as York Properties, the Raleigh company that manages the center.

The group mostly concentrates on centers in and around Atlanta but has other properties in Florida, Tennessee and South Carolina.