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Shopping Neighborhood

Food Lion Anchored Center | Busy Tr-Cities Region

701 Hwy 11 West, Church Hill, TN 37642

Listing Price: $3,500,000

Cap Rate
7.48%
Gross SF
43,700
Rentable SF
43,700
Price/Gross SF
$80.09
Lot Size
6.09 acres
Year Built
1998

Investment Overview

Marcus & Millichap, on behalf of ownership, is pleased to exclusively offer the fee simple interest in Central Plaza, a grocery-anchored neighborhood center in Church Hill, Tennessee (the “Offering”). Located in Hawkins County, the 43,700 square-foot center is fully occupied and anchored by established Food Lion and Dollar General locations. The Offering presents an investor the opportunity to acquire a grocery-anchored asset featuring an established tenant mix with structured rental increases and a high performing grocery anchor. The Offering is anchored by investment grade retailers Food Lion and Dollar General, both rated “BBB” by Standard & Poor’s, who collectively account for 81 percent of the overall revenue and have exceptionally strong brand recognition. Both retailers have been at the center since its construction over 24 years ago, and Food Lion is currently undergoing interior and exterior improvements at their own expense, demonstrating their continued commitment to this location. Food Lion reports strong 2020 sales at an increase of 30 percent over the prior year, and a 2.12 percent rentto- sales ratio. Owned by Ahold Delhaize (OTCMKTS: ADRNY), one of the world’s largest food retail group, Food Lion operates more than 1,000 grocery stores in 10 states of the Mid-Atlantic and Southeastern United States, serving over 10 million customers per week. Dollar General Corporation (NYSE: DG) is the nation’s largest small-box discount retailer with more than 12,000 stores in 43 states and 31 consecutive years of same store sales growth.

Investment Highlights

  • Anchored By Food Lion and Dollar General Since 1997; "BBB" Investment Grade Credit
  • Current Food Lion Renovation Demonstrates their Strong Commitment to this Location
  • Food Lion has a 2.12% Rent-To-Sales Ratio with 30% Sales Growth Over 2019

Exclusively Listed By

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2860

    License(s) TN: 307629

    Tennessee

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

Shopping Neighborhood

Food Lion Anchored Center | Busy Tr-Cities Region

Listing Price: $3,500,000

Cap Rate
7.48%
Gross SF
43,700
Rentable SF
43,700
Price/Gross SF
$80.09
Lot Size
6.09 acres
Year Built
1998

Investment Highlights

  • Anchored By Food Lion and Dollar General Since 1997; "BBB" Investment Grade Credit
  • Current Food Lion Renovation Demonstrates their Strong Commitment to this Location
  • Food Lion has a 2.12% Rent-To-Sales Ratio with 30% Sales Growth Over 2019

Investment Overview

Marcus & Millichap, on behalf of ownership, is pleased to exclusively offer the fee simple interest in Central Plaza, a grocery-anchored neighborhood center in Church Hill, Tennessee (the “Offering”). Located in Hawkins County, the 43,700 square-foot center is fully occupied and anchored by established Food Lion and Dollar General locations. The Offering presents an investor the opportunity to acquire a grocery-anchored asset featuring an established tenant mix with structured rental increases and a high performing grocery anchor. The Offering is anchored by investment grade retailers Food Lion and Dollar General, both rated “BBB” by Standard & Poor’s, who collectively account for 81 percent of the overall revenue and have exceptionally strong brand recognition. Both retailers have been at the center since its construction over 24 years ago, and Food Lion is currently undergoing interior and exterior improvements at their own expense, demonstrating their continued commitment to this location. Food Lion reports strong 2020 sales at an increase of 30 percent over the prior year, and a 2.12 percent rentto- sales ratio. Owned by Ahold Delhaize (OTCMKTS: ADRNY), one of the world’s largest food retail group, Food Lion operates more than 1,000 grocery stores in 10 states of the Mid-Atlantic and Southeastern United States, serving over 10 million customers per week. Dollar General Corporation (NYSE: DG) is the nation’s largest small-box discount retailer with more than 12,000 stores in 43 states and 31 consecutive years of same store sales growth.

Exclusively Listed By

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2860

    License(s): TN: 307629

    Tennessee

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

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