New Bern Market. Picture courtesy of JLL
Evans Finest LLC has acquired New Bern Market, a 59,516-square-foot, grocery-anchored purchasing middle in New Bern, N.C. JLL Senior Director Tom Kolarczyk and Senior Managing Director Danny Finkle brokered the $12.7 million transaction on behalf of the vendor, a three way partnership between Columbia Improvement Group and Lubert Adler, whereas the client was represented by Meybohm Industrial.
The large field energy element a part of the retail middle traded in April and the bottom lease of the 100,000-square-foot Harris Teeter grocery store a part of the asset was acquired by Central Ave. Corp. for $18.3 million again in November. The identical three way partnership bought the elements.
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The Harris Teeter-anchored retail middle is at the moment 81 p.c leased and in proximity to retailers Ross Costume for Much less, Passion Foyer and Academy Sports activities. The property’s tenant roster consists of HomeGoods, Rack Room Sneakers, Tub & Physique Works, Domino’s and Wingstop, amongst others.
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Attracting almost 2.8 million visits on an annual foundation, New Bern Market is the fourth most visited purchasing middle inside a 30-mile radius. The retail middle’s anchor alone attracts roughly 1.2 million yearly visits, in line with retail visitors knowledge agency, Placer.ai.
Located at 3531 Martin Luther King Jr. Blvd., at a 4-mile distance from downtown New Bern, the retail middle sits in an space the place the every day automobile visitors reaches roughly 37,500 automobiles. New Bern Market is the go-to vacation spot for residents dwelling inside 20 miles of the property.
In response to latest PwC findings, retail transactions are more likely to goal higher-quality belongings and powerful areas with experiential retail choices within the upcoming 12 months. Future curiosity amongst retail buyers shall be considerably influenced by the “flight to high quality” pattern.
