Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 1989
Building Area
Land Area ()

Property Description

Jones Lang LaSalle, a North Carolina licensed real estate broker (“JLL”), has

been retained as the exclusive sales representative for Rivertowne Square

(“the Property”), a 68,795 SF neighborhood shopping center anchored by

PetSmart, Books-A-Million, and Walmart (shadow). The 94.3% occupied

Property is located in New Bern, NC along the highly trafficked Dr. Martin

Luther King Jr. Blvd (37,500 VPD) with convenient access directly off Highway

70 (48,000 VPD).

Rivertowne Square is a high-yielding investment opportunity positioned

along an active retail corridor. New Bern has an exceptionally wide trade

area, bringing in consumers from over 20 miles away (Morehead City,

Vanceboro, Pollocksville, among others). Over the past year, Rivertowne

Square has attracted over 2.3 million visitors, becoming the No. 1 shopping

center in the market (within 15-miles). Notably, Rivertowne Square has

surpassed New Bern Mall’s 2.15 million annual visitors (Placer.Ai). New Bern

Mall (directly across the street) still resides in the top twelfth percentile for

shopping center visits both in North Carolina and the country. This offering

provides the unique ability to purchase an established shopping center in a

strong retail corridor with coastal barriers to entry.

Investment Highlights

  • OUTSTANDING ANCHOR TENANT TENURE (16.5+ WEIGHTED AVERAGE YEARS) 
  • WALMART SHADOW-ANCHORED
  • RECENT LEASING MOMENTUM (PETSMART EXTENDED FOR 10 YEARS) 
  • EXCELLENT ACCESS & AMPLE PARKING
Last Updated Date: 23 Apr 2021
Thomas Kolarczyk
Thomas Kolarczyk
Senior Director, Capital Markets
License details
NC-276931 SC-116227
Ryan Eklund
Ryan Eklund
Director, Capital Markets
License details
NC-286222 SC-115530

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Last Updated Date: 23 Apr 2021

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