The new Whole Foods in Fayetteville is expected to have a positive impact on the local market.
A California real estate investor paid more than $23 million for College Marketplace in Fayetteville, the five-acre shopping center that is anchored by Whole Foods Market at 3425 N. College Ave.
College Marketplace 16 LLC, a subsidiary of ACF Property Management of Studio City, California, paid $23.3 million to Whole Foods’ College Marketplace (Fayetteville) LLC. The property is attached to a $14.5 million loan from RGA Reinsurance Company of St. Louis.
Whole Foods bought the property for $4 million from the Gerald Jones Trust in June 2014. It then developed the Whole Foods Market, a 35,000-SF upscale grocery store that opened in March.
The center also has several other businesses, including Deluxe Burger, Joplimo Mattress and Alumni Hall.
ACF Property is led by Alan C. Fox, who founded the company in 1968 and is the best-selling author of “People Tools: 54 Strategies for Building Relationships, Creating Joy and Embracing Prosperity.”
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