Harris Teeter. Picture by Gene Gallin by way of Unsplash
Central Ave. Corp. has acquired the bottom lease of a 99,839-square-foot Harris Teeter grocery retailer in New Bern, N.C. JLL Capital Markets brokered the 1031 deal on behalf of the vendor, a three way partnership between Columbia Growth Group and Lubert Adler. In keeping with public information, the property traded for $18.3 million.
Positioned at 3565 Martin Luther King Jr. Blvd., the shop is a part of the New Bern Market retail middle, which boasts greater than 2.8 million visits per yr. Harris Teeter alone attracts roughly 1.2 million annual visits, in line with placer.ai, making it the eighth most visited retailer in all the chain.
Located 4 miles from downtown New Bern, in an space the place the each day automobile visitors reaches roughly 37,500 autos, the retail middle serves residents residing inside a 20-mile radius of the property. Different tenants on the web site embody Ross Gown for Much less, Interest Foyer, Academy Sports activities, 5 Beneath, West Marine and ULTA.
The JLL crew concerned within the deal included Senior Managing Administrators Alex Sharrin and Danny Finkle, together with Senior Director Tom Kolarczyk and Director Jeff Cicurel. Earlier this month, JLL was concerned within the $73.8 million sale of Harvest Junction, a 364,000-square-foot retail asset in Longmont, Colo. Additionally in November, the agency brokered the commerce of Southpark Meadows I & II, a 938,103-square-foot purchasing middle in Austin, Texas.
