Invesco buys the Knightdale Marketplace shopping center

Knightdale Marketplace, the shopping center at U.S. 64 and Interstate 540 in Knightdale, has a new owner. Invesco Real Estate bought the 323,113-square-foot center for $86.7 million, JLL announced on September 16, 2026.

JLL Capital Markets represented the seller, a joint venture between affiliates of Bailard Inc. and M&J Wilkow Ltd. According to JLL, the property covers about 43.5 acres at 1006 Shoppes at Midway Drive and 210 to 304 Hinton Oaks Boulevard. REBusinessOnline reported the sale on September 17, 2026 with the same price, buyer and seller.

The center’s website places Knightdale Marketplace at Hinton Oaks Boulevard and Knightdale Boulevard and divides it into Knightdale Marketplace East and Knightdale Marketplace West. According to that site, M&J Wilkow Properties manages and leases both parts.

The price and the buyer

JLL and REBusinessOnline both put the price at $86.7 million. CRE Daily reported a higher figure, citing reporting by AltsWire, and its account adds detail on the buyer:

• CRE Daily put the purchase price at $87.2 million and said that amount included closing and leasing costs.
• CRE Daily named the buyer as Invesco Real Estate Income Trust, a nontraded real estate investment trust.
• CRE Daily said the deal closed on September 10, 2026, after the trust’s August 31 valuation date.
• CRE Daily described the center as 100% leased, with a weighted average lease term of about seven years.
• CRE Daily said the trust’s direct real estate holdings covered 71 properties in 32 markets.

Tom Kolarczyk, a senior director at JLL, led the sale team with director Andrew Kahn and analysts Ella Glover and Katie Sanger. In the JLL release, Kolarczyk says bidding came from both core and core-plus investors and the sale reached “record pricing for the asset class in the greater Raleigh market.”

What JLL says about the center

JLL describes Knightdale Marketplace as a super-regional shopping center and lists these facts about the property:

• The center was delivered in 2007 and 2008, and it was 100% occupied at the time of the sale.
• The property is less than seven miles from downtown Raleigh.
• JLL lists 16 retailers and restaurants as primary tenants, plus three outparcel tenants and two shadow anchors.
• JLL names four retailers it calls recent additions to the tenant list, Academy Sports + Outdoors among them.

JLL also says the ongoing completion of the Interstate 540 expansion is expected to improve access to the center and support more home and business construction in eastern Wake County. REBusinessOnline gives 2008 as the year the center was built.

Stores at Knightdale Marketplace

Several tenants JLL named list their Knightdale stores at the center’s addresses on their own company pages:

• Academy Sports + Outdoors is at 216 Hinton Oaks Boulevard, and the company’s store page says it sells hunting and fishing licenses.
• Best Buy is at 214 Hinton Oaks Boulevard, and its store page lists Geek Squad services and a Hearing Solutions Center.
• Michaels is at 1006 Shoppes at Midway Drive, and the company’s store page lists custom framing and classes.
• PetSmart is at 1014 Shoppes at Midway Drive, and its store page lists grooming, training and pet adoptions.
• Five Guys is at 1018 Shoppes at Midway Drive, according to the chain’s restaurant page.
• Saltgrass Steak House, one of the three outparcel tenants JLL named, is at 6601 Knightdale Boulevard, according to the restaurant’s website.

The Michaels and Five Guys store pages label the Shoppes at Midway Drive side of the property as Shoppes at Midway Plantation. JLL and REBusinessOnline both include the 1006 Shoppes at Midway Drive address in the property Invesco bought.