Case Study

Investment Properties Group sells Union Town Center in Indian Trail, N.C.

The SRS Investment Properties Group successfully executed a high-exposure marketing strategy for Union Town Centre, touching each and every active grocery-anchored retail buyer in the investment community, enabling the team to garner nearly 10 solid offers on the Asset. After selecting the best buyer through two rounds of best and final offers, the due diligence and closing processes proceeded relatively smoothly despite the loss of a shop space tenant while under contract.

Deal Strengths

  • Anchored by Food Lion with good lease term and growing sales
  • Located in an extremely high growth sub-market of Charlotte, N.C.
  • Opportunity to add value via available outparcel pads

Deal Challenges

  • Suburban location outside Charlotte
  • Tenant roster shift during the due diligence process
  • Food Lion sales, while trending up, slightly below chain average

 

Overview

ASSET SOLD

Neighborhood Center

OCCUPANCY

97.36%

SALE PRICE

$11,2000,000.00

YEAR BUILT

2000

SALE DATE

August 11, 2017

ANCHOR TENANTS
  • Food Lion
  • Dollar Tree
OFFERING GLA

102,360 +/- SF

NATIONAL/REGIONAL TENANTS
  • Workout Anytime
  • Clubstore Outlet
  • ABC Store
LAND

15.03 +/- AC

 

 

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