News & Events

• Heidenberg Properties Group bought Triangle Town Place in Northeast Raleigh for $28.4 million.
• The 153,350-square-foot retail center includes Dick’s Sporting Goods, Designer Shoe Warehouse, Dollar Tree and Nordstrom Rack.
• Heidenberg operates retail centers across Connecticut, New Jersey, New York, Vermont and West Virginia.

A retail owner and operator out of New Jersey has netted its first North Carolina property with the purchase of a shopping center in Northeast Raleigh.

Triangle Town Place at 3630 Sumner Blvd. sold for $28.4 million on Oct. 22 to Heidenberg Properties⁠ Group, according to Wake County deed records. The retail plaza is across from Triangle Town Center.

Heidenberg Chief Operating Officer Jason Lazar said the Raleigh market reminds the firm of “some really core markets that we’ve seen in the Northeast.” The region’s growth projections and student population were among the factors that attracted Heidenberg to Raleigh.

“What’s not to love about it? By every metric, it’s so highly rated,” Lazar said of the local market.

Triangle Town Place includes Dick’s Sporting Goods (NYSE: DKS⁠), Designer Shoe Warehouse (NYSE: DBI), Dollar Tree (Nasdaq: DLTR), Nordstrom Rack (NYSE: JWN⁠) and a vacant Party City space.

The sale also includes a drainage pond across Melville Road from the center.  Built in 2004, the 153,350-square-foot retail center is located on 14.4 acres.

Lazar did not detail Heidenberg’s plans for enhancing the center, but said the firm has a number of options for filling the Party City space.

RCG⁠ Ventures, based in Atlanta, is the seller. It purchased Triangle Town Place in March 2025 for $29.55 million. The site also sold in 2022 for $28.4 million.

The property has a total assessed value of $32.9 million, according to county records.

RCG did not return a request for comment.

Heidenberg currently lists 12 retail centers in Connecticut, New Jersey, New York, Vermont and West Virginia in its portfolio. Lazar said the firm has 2.5 million square feet of retail centers under its ownership.

Lazar did not expand on Heidenberg’s strategy for acquisitions in Raleigh, beyond saying the firm wants to acquire more.

“But you can’t do the second until you do the first,” he said.

Thompson Brown with Berkeley Capital Advisors⁠ represented RCG in the sale. Heidenberg has hired The Shopping Center Group as the leasing brokerage for the center.

Among the region’s many retail transactions this year is the nearby Capital Marketplace⁠, which sold for $80.6 million to Principal Financial Group⁠. Triangle Town Center’s anchor parcels for the former Macy’s also traded hands this year.