The addition of Urban Air Trampoline Park to the Fayetteville market not only expanded the experiential and entertainment retail offerings at Slate Asset Management's Fayetteville Pavilion retail center on Skibo Road, it has also created a local and regional destination option for family fun in the area.
Much more than just a trampoline park, Urban Air franchise operations include laser tag, bowling, mini-golf, skydiving, go-karts, bumper cars, climbing walls and a ropes course. The new Urban Air Adventure Park is set to open later this spring after being selected by a panel of local industry professionals as the 2023 winner of the CoStar Impact Award for lease of the year for Fayetteville.
Last year, Fayetteville Pavilion was one of 41 retail properties sold by a joint venture of Site Centers and Madison International Realty for $387.6 million to Toronto-based Slate Grocery REIT. The retail properties total over 2.29 million square feet and were located in Florida, North Carolina, Georgia, Ohio, Virginia and Massachusetts.
About the Project: Measuring nearly 275,000 square feet, Fayetteville Pavilion is a grocery-anchored community center with Food Lion, Michaels, PetSmart and Marshalls as major tenants. Nearby retailers along the Skibo Road corridor include Target, Burlington, Academy Sports and The Home Depot.
What the Judges Said: "This deal involved a great tenant at a great location," said Alex Keith of Tom Keith & Associates.
They Made it Happen: Cori Nix, senior associate and John Burleson, associate with CBRE | Raleigh secured the sizable retail lease.
