Dec
09
Goldsboro, N.C. Food Lion Center Sold
By
Five Points Plaza, a 57,000-square-foot shopping center anchored by Food Lion, has sold for approximately $6 million. The 97 percent-leased center includes a Family Dollar, additional shop space and two outparcels. Drew Fleming and Mark Joines of Cassidy Turley’s Atlanta office represented the buyer, a North Carolina-based private equity group, and Marlene Spritzer of Durham, N.C.-based Spritzer Commercial Properties, LLC represented the seller, a North Carolina-based developer.
From the listing sheet:
- 57,485 SF retail center with room to expand on 8.94 acres
- Anchor tenants include Food Lion and Family Dollar store
- Additional tenants: Andy’s Pizza, Chen’s, Domino’s Pizza, Star Beauty, Sunset Wireless, and Southeast Family Pharmacy
- 100% occupied, and Built in 2000
- Two outparcels 1.11 and 1.24 acres (seller estimated $600,000 value)
- Offered at a 9.8% CAP Rate based upon $6.15 million asking price
- Current financing to be assumed 6.25%
- NOI is $550,890 based on 100% occupancy
