Cleeman Realty Group is pleased to announce the $5,100,000 off-market sale of Vernon Market Shopping Center in Kinston, North Carolina. The 41,885 SF shopping center was 97% occupied at the time of closing and featured a high-performing Food Lion grocery store along with a pharmacy tenant and two shop spaces. The property sits on a 5.62-acre site and recently underwent significant capital improvements including a new roof and parking lot as well as upgrades to parking lot lighting.
Sam Seelenfreund of Cleeman Realty Group represented the buyer and seller in the transaction.
“The buyer was attracted to the strong credit of the Food Lion tenant that accounts for nearly 90% of the shopping center’s GLA” said Seelenfreund
Cleeman Realty Group is a full-service real estate advisory and investment group, specializing in the investment sales of retail, multifamily and industrial properties throughout the United States. The Cleeman team utilizes deeply rooted industry contacts to identify and evaluate off-market transactions with unparalleled efficiency. To sell your property or to inquire about our available acquisition opportunities, please contact one of our team members at www.cleeman.com