Salisbury Marketplace

2092 Statesville Boulevard, Salisbury, NC, 28147, US

Asset Description

Salisbury Marketplace presents a compelling investment opportunity in the form of a 79,732 SF grocery-anchored shopping center located at 2092-2138 Statesville Blvd in Salisbury, NC. Anchored by a high-performing Food Lion store, along with national retailers Family Dollar and Citi Trends, the center benefits from a diverse and complementary tenant mix. Its strategic location just 3 miles from Food Lion's corporate headquarters ensures heightened corporate oversight and investment, adding an extra layer of stability to the asset. Currently at 88% occupancy, Salisbury Marketplace offers attractive value-add potential through lease-up opportunities and significant rental rate upside given the current below-market lease rates. Situated just 44 miles northeast of Charlotte in the growing Salisbury submarket, the center is well-positioned to capitalize on the area's continued expansion.

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Attributes

Building area net

79,732 sf

Occupancy

88%

Year built

1987

Parcel

9.83 acres

WAULT

6 years

Media

Investment Highlights

TOP PERFORMING FOOD LION

AHOLD DELHAIZE CREDIT

•S&P: BBB+ | Moody’s: Baa1

STRONG BRAND LOYALTY

•Salisbury Marketplace benefits from its prime location, just 3 miles from Food Lion’s headquarters, ensuring heightened corporate oversight and investment from the parent company.

•As one of Rowan County's largest employers, Food Lion’s3,200+ local workforce drives substantial economic activity, creating an unparalleled synergy between anchor tenant and local community.

ACHIEVABLE NOI GROWTH VIA LEASE-UP & MARK-TO MARKET-POTENTIAL

•Immediate 9,300 SF lease-up opportunity: potential to increase base rental revenue by $148K+

•Mark-to-Market opportunity: potential to increase base rental revenue by $58k+

EXCELLENT TENANT LONGEVITY

•22 Years of Weighted Average Tenant Tenure