Investment Overview

Marcus & Millichap is pleased to exclusively present Livingston Plaza Food Lion Center, a 40,600-square-foot, 100 percent occupied neighborhood shopping center anchored by Food Lion at 400 Market Square Plaza in Livingston, Tennessee. Positioned along Livingston’s primary commercial corridor, the center serves as the community’s leading destination for grocery, convenience and daily-needs retail. Since opening in 1997, the property has established itself as one of the area’s dominant neighborhood shopping centers, supported by long-term tenant occupancy, necessity-based retail and consistent consumer traffic. The center is anchored by original tenants Food Lion and Family Dollar, both of which have continuously occupied the property since opening nearly 30 years ago. Their long operating history reflects the property’s established market position and the strength of the surrounding trade area. The property also benefits from a protected rural trade area, with the nearest competing Food Lion approximately 20 miles away, reinforcing the store’s role as the area’s primary grocery destination. Food Lion occupies approximately 71 percent of the gross leasable area and ranks among the chain’s highest-performing locations, placing approximately #300 of 1,104 stores nationwide (Top 27 percent) and #7 of 27 Tennessee locations (Top 23 percent), according to Placer.ai. Originally executed as a 20-year build-to-suit lease in 1996, Food Lion has repeatedly demonstrated its commitment to the location through multiple renewals and lease modifications. The current lease extends through October 31, 2030, with four remaining five-year renewal options that provide the ability to remain through October 31, 2050. This nearly three-decade operating history underscores the strategic importance of the location within Food Lion’s real estate portfolio. Ownership has continued to reinvest in the property, including the installation of a new Food Lion roof in 2021 backed by a 20-year transferable warranty, helping reduce anticipated near-term capital expenditures. The tenant mix is further strengthened by Casa Mexicana, which has operated at the center since 2005 and expanded from approximately 2,400 square feet to 3,600 square feet, demonstrating sustained business growth and a long-term commitment to the property. Together with Family Dollar, these long-tenured tenants provide a complementary mix of grocery, discount retail and restaurant uses that generate consistent daily traffic and serve the essential needs of the surrounding community. Situated on approximately 7.5 acres, the center offers ample parking, multiple points of ingress and egress, and excellent visibility along Livingston’s primary retail corridor. As the county seat of Overton County, Livingston serves as the commercial, governmental and healthcare hub for the surrounding rural communities, drawing consumers from a broad regional trade area while benefiting from limited direct grocery competition. Offered at approximately $80 per square foot, Livingston Plaza Food Lion Center provides investors with the opportunity to acquire a stabilized grocery-anchored shopping center at a basis well below estimated replacement cost. The combination of long-term anchor tenants, a top-performing grocery operator with a proven renewal history, a protected trade area, recent capital improvements and a necessity-based tenant mix positions the property to deliver stable cash flow and long-term investment performance.