Investment Overview

The Subject Property is a 182,646-square foot Food Lion and Roses anchored neighborhood shopping center in Henderson, North Carolina. This offering presents the purchaser with the opportunity to add value by filling the vacant space in a property with a successful grocery store in place. Both anchors are long-term tenants. Roses has been in the center since the original phase was constructed in 1970 and Food Lion has been a tenant since 1996 when phase II was completed. This Food Lion location reports excellent store sales with a low rent-to-sales ratio. Food Lion is a BBB rated investment grade tenant. They recently extended their lease by 10 years demonstrating their commitment to the location. The Food Lion-anchored shopping center is located on Dabney Drive and is conveniently accessible via designated left and right turn lanes as well as a traffic light directly at the entrance to the property. It is fronted by four out-parcels occupied by Union Bank, First Citizens Bank, All Tune and Lube and a Popeyes. These outparcels are not a part of this disposition. Henderson, North Carolina is located approximately 40 miles northeast of Raleigh. It is the County Seat for Vance County and included in the Raleigh-Durham-Chapel Hill Metropolitan Statistical Area. The Food Lion center is on a retail corridor in proximity to Walmart, Lowe’s and Belk.