Riverview Shopping Center sold for $25.6 million in a portfolio deal by CBRE Investment Management and MCB Real Estate, putting a major North Roxboro Street retail center under new national ownership.
The center is not a small strip mall. MCB lists Riverview as a 125,430-square-foot Harris Teeter-anchored property at 5116 N. Roxboro St., with remaining lease space from 1,000 to 4,319 square feet.
Durham County's parcel data shows the main Riverview parcel at 5124 N. Roxboro St. spans 13.59 acres, with a community commercial zoning designation and a commercial shopping center land class. The same record lists $5.8 million in assessed land value, $9.7 million in assessed building value and $15.3 million in total assessed value.
That comparison gives the sale more shape. The reported $25.6 million price is about $10 million higher than the county's assessed value for the main shopping center parcel, though county values are not appraisals and can lag market transactions.
The county record still lists EREP Riverview I LLC as the owner, so Durham's public parcel data may not yet reflect the new portfolio sale. The prior recorded package sale in the parcel layer was $13.25 million, tied to deed book 008111 and page 00332.
Leasing materials from Foundry Commercial add the local texture: Riverview has the northernmost Harris Teeter in the Triangle, Duke Health as a prominent tenant and available spaces ranging from a 1,500-square-foot restaurant slot to a 4,319-square-foot retail space.
That makes the purchase a bet on everyday retail in north Durham. Groceries, medical visits and small storefronts. Not office towers.