Falls Village Shopping Center in Raleigh has a new owner.
The center at the on Falls of the Neuse Road in North Raleigh sold for $23 million to a joint venture between New York-based DRA Advisors, and Atlanta-based RCG Ventures.
The shopping center, which was developed in 1973, includes TJ Maxx, HomeGoods and Dollar Tree. It was renovated in 2002.
Casey Rosen and Mike Burkard of CBREs National Retail Investment Group represented the seller which was an affiliate of Greensboro-based Bell Partners.