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Greenville Shops, Greenville, NC

Greenville Shops

NC, USA

Price $3,988,000
Cap Rate
NOI $298,880
Lease Term Various
Lease Type NNN
Rental Increases Various
Year Built 2013
Building Size 10,077 sq. ft.
Lot Size 1.35 Acres (58,806 sq. ft.)
Status Sold
Lead Broker Information Vince Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Cushman and Wakefield Inc. LIC. # 00616335
This property is listed in conjunction with Georgia-licensed real estate broker Delta Commercial.

Investment Highlights

100% LEASED CENTER WITH SCHEDULED RENT INCREASES
» 100% leased to strong national and regional tenants
» Annual rent growth to $298,880 in 2018, providing an immediate cap rate increase retun to 7.06%
» Scheduled rent increases for all tenants, providing a hedge against inflation
» All NNN leases, with tenants responsible for taxes, insurance, utilities, maintenance, and common area costs

BUSY LOCATION IN DENSE RETAIL CORRIDOR
» Visibility and access to 40,000 vehicles per day from Greenville Boulevard
» Close proximity to multiple large shopping centers, including Greenville Mall

CENTRAL LOCATION NEAR AREA’S LARGEST EMPLOYERS, SCHOOLS, AND MEDICAL CENTERS
» Less than a mile from East Carolina University – North Carolina’s third-largest university, with 28,289 students
» Near 861-bed Vidant Medical Center – largest employer in the Greenville MSA, with 6,895 employees
» Vidant Medical Center treats more than 61,600 patients per year

PRIME LOCATION IN BOOMING RETAIL MARKET
» The Greenville MSA ranks as one of only a dozen billion dollar retail markets in North Carolina
» Pitt County is one of the fastest growing urban centers in North Carolina


Property Description

SOLD

The property is located in a dense retail corridor, with access and visibility to 40,000 vehicles per day on Greenville Boulevard. Several major shopping centers are located near the site, providing excellent retail synergy. University Commons, a 329,820 square foot center, is anchored by Walmart, Target, Harris Teeter, and T.J. Maxx and features other major retailers, including Sally Beauty Supply, Barnes & Noble, Petco, Carter’s, and others. Additionally, Greenville Mall is less than a mile from the property. The mall is anchored by Belk, JCPenney, and Dunham’s Sports and features approximately 70 different retailers.

The property is centrally located near major employers, educational institutions, and medical centers. East Carolina University is less than a mile from the site. The university is the third-largest university in North Carolina, with an enrollment of 28,289 students, and the second-largest employer in Greenville, with 5,564 employees. Additionally, the 861-bed Vidant Medical Center and Brody School of Medicine are less than four miles from the property; Vidant Medical Center is the largest employer in the Greenville MSA, with 6,895 employees. Finally, Pitt Community College is less than three and a half miles from the property. The college is another major employer in the Greenville area and has an enrollment of 11,771 students.

Contact Us About This Property

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