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
Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.
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1108 Aberdeen Road, Laurinburg, NC 28352
Platform fee for this transaction is 5.00% or a minimum of $25,000.