Dec
09

Goldsboro, N.C. Food Lion Center Sold

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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
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