Cleeman Realty Group (CRG) is pleased to announce the $4,125,000 sale of Forest Hill Center, a Food Lion anchored retail center located in Lexington, North Carolina. The 52,855 SF center features multiple national and regional tenants, sits on 8.75 acres along U.S Highway 64 and was 86% occupied at closing.
Jacob Baruch and David Kaufman of Cleeman represented the buyer, a privately held investment group based in North Carolina in the off-market transaction. Nicolas Gonzalez of Linville Team Partners assisted the seller’s estate with this transaction.
“The buyer was attracted to the asset due the healthy rent-to-sales ratio of Food Lion and the upside in leasing a vacant outparcel building” said Kaufman. “the deal presented multiple challenges including a short term anchor lease and existing CMBS debt. Our teams experience enables us to execute an array of complex transactions like Forest Hill Center in an efficient manner.”
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 cleeman.com
Linville Team Partners is full-service real estate brokerage located in Winston-Salem, NC specializing in local and regional real estate services and the disposition of investment property throughout the Southeast.