Principal Financial Group acquires Capital Marketplace, a 383,000-square-foot retail center in Raleigh, for $80.6 million from Finmarc Management.
Principal Financial Group has completed the $80.6 million acquisition of Capital Marketplace, a 383,000-square-foot shopping center located in Raleigh, North Carolina. The seller, Finmarc Management, had owned the property since late 2021—when it was known as Plantation Point Shopping Center—and successfully grew occupancy to 97.5 percent during its tenure. CBRE brokers Adam Russ, Erin Varol, Ryan Sciullo, and Casey Smith represented the seller in the transaction.
Delivered in 2006, the retail asset is currently anchored by a mix of national tenants, including BJ’s Wholesale Club, LA Fitness, Burlington, Dollar Tree, and Bob’s Discount Furniture, along with ParTee Shack. Finmarc intends to deploy the proceeds from this sale to support its 2026 investment strategy, which targets the acquisition of up to $400 million in office, retail, and industrial properties to add to its existing 7-million-square-foot portfolio.
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