Shopping Neighborhood
North Carolina IGA Grocery Portfolio
804 -808 E 5th Street & 116 N Walnut Street, Tabor City & Fairmont, NC 28463
Listing Price: $4,225,000
Investment Overview
NC IGA GROCERY-ANCHORED PORTFOLIO
• The portfolio consists of 2 IGA grocery anchored centers in Fairmont & Tabor City, NC
• Both centers are 100% occupied and have a long-term tenant history featuring an average tenant tenure of 19 years
• IGA was founded in 1926 and is the largest independent grocery chain in the world, with over 763 locations across 38 states in the US
• IGA spans across 41 other countries and has over 6,000 stores worldwide
FAIRMONT SHOPPING CENTER
• The subject property is a 51,800 square foot grocery-anchored center in Fairmont, NC
• Fairmont Shopping Center is anchored by Fresh Foods IGA & a Roses Express, which is 78% of the GLA
• Fresh Foods IGA is backed by 14 locations across Southeastern North Carolina
• Fairmont Shopping Center tenants have a long-standing history at the property, boasting an average tenant tenure of 17 years
• Priced below replacement cost: $47.32/SF
• Average Rent: $5.23
• WALT: 4.66 Years
CO-ANCHORED BY ROSES DISCOUNT STORES 24-YEAR OCCUPANCY HISTORY
• Roses is a regional discount chain founded in 1915, offering affordable apparel, electronics, housewares, groceries, and more
• They operate 175 stores across 15 states as of 2021, with ongoing expansion through new store openings and acquisitions
• The parent company is Variety Wholesalers, Inc. was founded in 1930 and is headquartered in Henderson, NC
• Variety Wholesalers operates 380+ stores under several banners and reports annual revenues of approximately $1.5 billion
FAIRMONT, NC
• Fairmont is a town located in Robeson County in southeastern North Carolina
• Fairmont is located 18 miles south of Lumberton, 30 miles northwest of Myrtle Beach, SC, and 90 miles southwest of Raleigh, NC
• Known for its deep agricultural roots, Fairmont was once dubbed the “Biggest Little Tobacco Market in the World”
• Fairmont’s economy is driven by agriculture, small businesses, and its strategic location near regional transportation routes and the South Carolina border
TABOR CITY IGA ANCHORED CENTER
• The subject property is a 36,620 square foot grocery-anchored center in Tabor City, NC
• Tabor City IGA anchored Shopping Center is anchored by IGA Food Mart, which is 50% of the GLA
• This IGA is operated by Alex Lee, Inc., a company that owns and operates over 140 grocery stores across North Carolina, South Carolina, Georgia, and Virginia.
• Alex Lee, Inc. also owns Lowes Foods, KJ’s Market, and IGA Southeast, and its wholesale division—Merchants Distributors—supplies more than 600 independent grocery stores across 11 states.
• Tabor City IGA is shadow anchored by a Maxway, which has been in the shopping center for over 24 years
• Priced below replacement cost: $54.53/SF
• Average Rent: $4.86
• Average Tenant Tenure: 24 Years
CO-ANCHORED BY MAXWAY | 24 YEAR OCCUPANCY HISTORY
• Maxway is a regional discount retail chain offering a variety of products, including apparel, household goods, food, and seasonal items
• The brand operates under the umbrella of Variety Wholesalers, Inc., which owns and manages 380+ locations in the discount retail space across the southeastern United States
TABOR CITY, NC
• Tabor City is a town in Columbus County, NC, located just minutes from the South Carolina border
• Situated about 60 miles west of Wilmington, NC, and 30 miles north of Myrtle Beach, SC
• Known as the “Yam Capital of the World,” Tabor City hosts the annual North Carolina Yam Festival, celebrating its agricultural heritage
• The local economy is driven by agriculture, small-scale manufacturing, and proximity-based tourism tied to the nearby beaches and festivals
Investment Highlights
- 2 IGA Grocery Anchored Shopping Centers
- Average Rent $5.08/SF
- Stable Tenant History 19 Years
- Priced Below Replacement Cost $47/SF
- Tabor City | Alex Lee (Lowe's Foods) Credit 600+ Locations
- Fairmont Fresh Foods IGA Credit 14 Locations
Exclusively Listed By
Broker of Record
-
Donald Gilchrist
First Vice President Investments
Financing By
Shopping Neighborhood
North Carolina IGA Grocery Portfolio
Listing Price: $4,225,000
Investment Highlights
- 2 IGA Grocery Anchored Shopping Centers
- Average Rent $5.08/SF
- Stable Tenant History 19 Years
- Priced Below Replacement Cost $47/SF
- Tabor City | Alex Lee (Lowe's Foods) Credit 600+ Locations
- Fairmont Fresh Foods IGA Credit 14 Locations
Investment Overview
NC IGA GROCERY-ANCHORED PORTFOLIO • The portfolio consists of 2 IGA grocery anchored centers in Fairmont & Tabor City, NC • Both centers are 100% occupied and have a long-term tenant history featuring an average tenant tenure of 19 years • IGA was founded in 1926 and is the largest independent grocery chain in the world, with over 763 locations across 38 states in the US • IGA spans across 41 other countries and has over 6,000 stores worldwide FAIRMONT SHOPPING CENTER • The subject property is a 51,800 square foot grocery-anchored center in Fairmont, NC • Fairmont Shopping Center is anchored by Fresh Foods IGA & a Roses Express, which is 78% of the GLA • Fresh Foods IGA is backed by 14 locations across Southeastern North Carolina • Fairmont Shopping Center tenants have a long-standing history at the property, boasting an average tenant tenure of 17 years • Priced below replacement cost: $47.32/SF • Average Rent: $5.23 • WALT: 4.66 Years CO-ANCHORED BY ROSES DISCOUNT STORES 24-YEAR OCCUPANCY HISTORY • Roses is a regional discount chain founded in 1915, offering affordable apparel, electronics, housewares, groceries, and more • They operate 175 stores across 15 states as of 2021, with ongoing expansion through new store openings and acquisitions • The parent company is Variety Wholesalers, Inc. was founded in 1930 and is headquartered in Henderson, NC • Variety Wholesalers operates 380+ stores under several banners and reports annual revenues of approximately $1.5 billion FAIRMONT, NC • Fairmont is a town located in Robeson County in southeastern North Carolina • Fairmont is located 18 miles south of Lumberton, 30 miles northwest of Myrtle Beach, SC, and 90 miles southwest of Raleigh, NC • Known for its deep agricultural roots, Fairmont was once dubbed the “Biggest Little Tobacco Market in the World” • Fairmont’s economy is driven by agriculture, small businesses, and its strategic location near regional transportation routes and the South Carolina border TABOR CITY IGA ANCHORED CENTER • The subject property is a 36,620 square foot grocery-anchored center in Tabor City, NC • Tabor City IGA anchored Shopping Center is anchored by IGA Food Mart, which is 50% of the GLA • This IGA is operated by Alex Lee, Inc., a company that owns and operates over 140 grocery stores across North Carolina, South Carolina, Georgia, and Virginia. • Alex Lee, Inc. also owns Lowes Foods, KJ’s Market, and IGA Southeast, and its wholesale division—Merchants Distributors—supplies more than 600 independent grocery stores across 11 states. • Tabor City IGA is shadow anchored by a Maxway, which has been in the shopping center for over 24 years • Priced below replacement cost: $54.53/SF • Average Rent: $4.86 • Average Tenant Tenure: 24 Years CO-ANCHORED BY MAXWAY | 24 YEAR OCCUPANCY HISTORY • Maxway is a regional discount retail chain offering a variety of products, including apparel, household goods, food, and seasonal items • The brand operates under the umbrella of Variety Wholesalers, Inc., which owns and manages 380+ locations in the discount retail space across the southeastern United States TABOR CITY, NC • Tabor City is a town in Columbus County, NC, located just minutes from the South Carolina border • Situated about 60 miles west of Wilmington, NC, and 30 miles north of Myrtle Beach, SC • Known as the “Yam Capital of the World,” Tabor City hosts the annual North Carolina Yam Festival, celebrating its agricultural heritage • The local economy is driven by agriculture, small-scale manufacturing, and proximity-based tourism tied to the nearby beaches and festivals
Exclusively Listed By
Broker of Record
-
Donald Gilchrist
First Vice President Investments
Financing By

