A second chance for Parker-Hannifin site
Back in 2010 and 2011 it was to be called Wake Union Place, a fairly upscale shopping center on the site of the former Parker-Hannifin (Schrader-Bellows) plant on Wake Union Church Road near its unconventional connection to Capital Boulevard. The plan died when the related developing companies, Interface Properties and Weingarten Realty Investors, withdrew from the project in the summer of 2012. Shortly afterward, a Miami, Florida bank holding firm called RREF BB NC SICP LLC purchased the four parcels for $3.5 million, well under the $9 million it was appraised for by Wake County. Now that bank and two associates with all-initial names plus another company, Rialto Capital Management – all of them apparently at the same address in Atlanta, Georgia – want to build Wake Union Plaza, starting out with just a portion of the 64 acres. Academy Sports will apparently build a retail store near Wake Union