Cleeman Realty Group is pleased to announce the $5,600,000 off-market sale of a free-standing Food Lion grocery store in Greensboro, NC. The subject property features convenient stoplight access, great visibility and is location at the well trafficked intersection of Cottage Place and Lawndale Drive which see a combined average traffic count in excess of 30,000 VPD. The property is located on approximately 3.21 acres and consists of 36,000 SF that is net leased to Food Lion. This location has been a grocery store since 1987.
Michael Cleeman and Sam Seelenfreund of Cleeman Realty Group represented the buyer and seller in this transaction.
“The buyer was looking to add to a portfolio of net lease supermarkets and the seller was looking to capitalize on the strong demand for this type of asset,” said Cleeman. “The seller was looking to capitalize on the cap rate compression in the current market for strong credit tenant supermarkets” 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