US - Lubbock, TX
£8,153,000 | 70,479 sf
Jones Lang LaSalle, Inc., a North Carolina licensed real estate broker (“JLL”), has been retained as the exclusive sales representative for River Place (“the Property” or “the Center”), a 31,308 SF ground floor retail anchored by Dollar General (DGX), Bank of America, and Ruth’s Chris. The 93% occupied Property is located in downtown Wilmington, NC, a popular tourist destination with a plethora of museums, hotels, and bars and restaurants, situated along N Water Street. With 9 years of WALT at 93% leased, the Center provides reliable cash flow and value-add opportunity by leasing one vacant suite. The Property also benefits from its location in the tourist driven downtown coupled with increased multifamily development in the submarket.
River Place is located in one of the fastest growing cities in the Southeast with a significant population growth of 26% since the 2010 US Census. In addition to the rapid population growth, the Wilmington MSA continues to thrive with over $930 million of tourism spending annually.