Salisbury Retail Shops Sold by Berkeley Capital


wallace shopsBerkeley Capital Advisors has announced the sale of Wallace Commons Small Shops in Salisbury, North Carolina.  The shops are located right off I-85 and shadow anchored by the newly built Wallace Commons, featuring a Belk, Kohl’s, Hibbett Sports, Olive Garden, and Longhorn Steakhouse.

The shops are newly constructed and are 100% occupied by nationally recognized, credit tenants FastMed and Sleepy’s with new 7 and 10 year lease terms. The sales price was not disclosed, but according to Loopnet, the asking cap rate was 6.5%.

David Webb, Rob Carter, and Alex Quarrier of Berkeley Capital Advisors represented the Seller of this transaction

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