Kroger Building on NC 55 Sold for $4.1 Million

Story and photo by Hal Goodtree.

Cary, NC – All this week, people have been asking us about the Kroger on NC 55. Rumors are flying, but all we can tell you for a fact is that the building has been sold to a real estate development firm.

Kroger No More

Kroger developed the property in 2005 and vacated it in 2008, according to Triangle Business Journal.

Last year, the site was swirled in controversy over a proposed Immigration & Customs Enforcement (ICE) facility.

The ICE facility was scotched soon after the plans became public knowledge.

The New Owners

The new owners of the property are The Crown Companies of Dobson, NC. Dobson is about 45 miles northwest of Winston-Salem.

Interestingly, Crown owned the property prior to development by Kroger. In 2005, Crown leased development rights to Kroger. Later, Crown sold the underlying property to Kroger as well.

Now, the site at the corner of NC 55 and High House is back in the Crown portfolio. According to public documents, Crown purchased the building for $4.1 million.

What’s Next?

First, it’s good to note that commercial real estate activity in Cary keeps chugging along. Waverly Place continues its renovation, adding a slew of new tenants. And, just last month, REI announced it was taking over the old Borders Books store.

No word yet of what might go into the ex-Kroger space, although we’ve gotten a wish-list of merchants from our readers. Of course, neither what the public wants nor the developer matters that much. It’s all about what company wants to step up and make an investment in the space and the community.

But the sale of the Kroger site marks another milestone for the rehabilitation of the property.

I’m looking forward to something good going into that valuable and popular corner.

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8 replies
  1. Cindy Carr
    Cindy Carr says:

    I keep sending the Whole Foods corporate office emails asking them to move out to this side of Cary. It would be awesome to have a Whole Foods store nearby since the population in this northwestern side of Cary has grown large enough it forced the Town of Cary to reapportion the council district so representation would be more fairly split with the other council districts (we were much larger!).

  2. Don Hyatt
    Don Hyatt says:

    Cindy, Is there a specific contact you’ve been sending comments to? I’d gladly add another voice to the Whole Foods request.

    • karen carter
      karen carter says:

      For WF contact, I recommend contacting Norah Smith (norah.smith@wholefoods.com). I’ve emailed and spoke with several at WF and their Broker’s office. Feel free to contact me and I can share more info.

  3. Gabe Macaluso
    Gabe Macaluso says:

    I had heard rumors it was going to be some sort of WalMart Grocery Store, I have never head of this concept, but it came from what I would consider a pretty reputable source.

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