Northside Square Shopping Center
~43,000 SF Laurinburg, NC, Grocery-Anchored Shopping Center
RealINSIGHT Marketplace and NKF Capital Markets are pleased to present the opportunity to acquire the fee-simple interest in 1100-1112 Aberdeen Road, Northside Square Shopping Center, a neighborhood shopping center in Laurinburg, North Carolina.
Northside Square Shopping Center is a grocery-anchored shopping center totaling 43,320 SF on a 6.3-acre lot. The center is anchored by a 25,000 SF Food Lion grocery store. The grocer reported strong performance numbers at this location and is well positioned just north of downtown Laurinburg. The Junior-Anchor, Family Dollar, also attracts much foot traffic, occupying an 8,000 SF box making up 18.5% of the Net Rentable Area.
Strategic Location in Scotland County Seat - Northside Shopping Center is well located just north of downtown Laurinburg, a community where Food Lion thrives. Laurinburg is located near I-75 at the South Carolina border, approximately 43 miles southwest of Fayetteville, North Carolina, a major military base on the East Coast.
Strong Performance – Northside Shopping Center is 79.0% leased with Food Lion representing 57.1% of the center and Family Dollar another 18.5%. Food Lion reports impressive sales figures of over $234 PSF. The grocer has been active at this location since 1988 and just renewed its lease for an additional 5 years. Food Lion is part of Alhold Delhaize, the fourth largest Supermarket Group in the US, which includes other staples like Stop & Shop, Hannaford and Peapod.
Substantial Opportunity for Value Creation – The substantial cash flow generated from the stable anchor and junior anchor tenancy will provide the new owner with an ideal platform to lease up the remaining 21.0% of the center and increase the already strong yield.
Auctioneer: Lamar Paul Fisher - License # 7100
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1108 Aberdeen Road, Laurinburg, NC 28352
Platform fee for this transaction is 5.00% or a minimum of $25,000.
Lamar P. Fisher
Fisher Auction Company Inc.