Peace University to sell part of Seaboard Station

Peace bought the property off Halifax Street north of downtown Raleigh five years ago for $20 million to generate revenue and provide space for expansion.

"We will retain a portion of the Seaboard District that is designated as University-owned land and maintain an active voice in future development of Seaboard Station," Peace officials said in the announcement. "A sale would allow WPU to generate a strong return on its investment and strategically direct those resources into the endowment as well as additional facilities, programs and opportunities for students."

University spokesman Ian Dunne the sale includes three retail buildings that currently house Oak & Dagger Public House, O2 Fitness and J. Betskis, along with an adjacent lot that encompasses the university's tennis courts and a parking lot.

TradeMark Properties, which has managed the center under Peace's ownership, will help the school "find a partner who has a vested interest in not only the retail center but also the north end of downtown Raleigh," officials said.

Harris Teeter announced plans in 2016 to open a 55,000-square-foot supermarket at the center to serve the downtown market. Construction was supposed to start early this year, but TradeMark said that has been put on hold so the grocer can review the new owner's development plans.