Retail
Under Contract

New Bern Marketplace Strip Center

3531 Dr. Martin Luther King Jr Blvd, New Bern, NC, 28562-2209, US

New Bern Marketplace Strip Center_Property for Sale

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Asset description

Jones Lang LaSalle, Inc., a North Carolina licensed real estate broker (“JLL”), has been retained as the exclusive sales representative for New Bern Marketplace (“the Property” or “the Center”), a 59,516 SF strip center featuring HomeGoods, Rack Room Shoes, and Bath & Body Works. The asset is shadow-anchored by Harris Teeter and sits adjacent to premier retailers such as Ross Dress for Less, Hobby Lobby, and Academy Sports. The 81% occupied Property offers a rare, value-add opportunity located in New Bern, NC, along the highly trafficked Dr. Martin Luther King Jr. Blvd (37,500 VPD).


New Bern Marketplace is positioned along the area’s main retail corridor and has an exceptionally wide trade area, bringing in regular customers from over 20 miles away. There are over 2.8M total annual visits at New Bern Marketplace - including 1.25M annual visits to Harris Teeter. The Center’s national, name-brand tenants make it the 4th most visited shopping center within a 30 mile radius.


Danny Finkle: Limited Nonresident Commercial Real Estate Broker/Salesperson'

Attributes

Building area Net
59,516 sf
Occupancy
81.00%
Year built
2018

Investment highlights

  • 39% NOI GROWTH POTENTIAL
  • DESTINATION BASED RETAIL CORRIDOR
  • 7 YEARS WALT REMAINING
  • SHADOW-ANCHORED BY $48MM+ SALES HARRIS TEETER
  • COMPLEMENTARY POWER CENTER WITH NATIONAL RETAILERS HOBBY LOBBY, ACADEMY SPORTS, ROSS DRESS FOR LESS & MORE
  • COASTAL LOCATION PROVIDES HIGH BARRIERS TO ENTRY
  • PROPERTY OFFERED UNENCUMBERED OF EXISTING DEBT


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Last updated
Nov 30, 2022