Shopping Community
Crossroads Centre
200 Stanford Rd, Lincolnton, NC 28092
Listing Price: $5,250,000
Investment Overview
Crossroads Centre is a well located, attractive, high performing 46,494 square foot Food Lion anchored shopping center in the Charlotte MSA. The property is 83% occupied with a good mix of internet resistant tenants including restaurants, a nail salon and military recruiting office. Investment grade Food Lion occupies 62% of the GLA and has been located at the center since 1999. The 17% of the center that is currently vacant is comprised of four bays between 1,050 and 3,744 square feet. The property is anchored by a Food Lion grocery store with a rent to sales ratio of less than 2% and sales growth of nearly 50% over the past two years at this location. The current lease term ends in 2024 followed by a renewal option at 27% higher rent.
Listing Price: $5,250,000
Investment Highlights
- 46,494 Square Foot Investment Grade Food Lion Anchored Center
- Offered Well Below Replacement Cost at $112.92 Per Square Feet
- 54% of the Center's Current Revenue is from Food Lion, with an Upcoming 27% Rent Increase
Investment Overview
Crossroads Centre is a well located, attractive, high performing 46,494 square foot Food Lion anchored shopping center in the Charlotte MSA. The property is 83% occupied with a good mix of internet resistant tenants including restaurants, a nail salon and military recruiting office. Investment grade Food Lion occupies 62% of the GLA and has been located at the center since 1999. The 17% of the center that is currently vacant is comprised of four bays between 1,050 and 3,744 square feet. The property is anchored by a Food Lion grocery store with a rent to sales ratio of less than 2% and sales growth of nearly 50% over the past two years at this location. The current lease term ends in 2024 followed by a renewal option at 27% higher rent.
