Retail

Harris Teeter Ground Lease

3565 Dr. Martin Luther King Jr. Blvd New Bern, North Carolina United States 28562-2209
Asking Price
Area Size
NOI Net Operating Income
NIY

Documents

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Attributes

Year Built 2018
Building Area Net
Occupancy 100.0 %

Asset Description

Jones Lang LaSalle, Inc., a North Carolina licensed real estate broker (“JLL”), has been retained as the exclusive sales representative for the Harris Teeter at New Bern Marketplace (“the Property”), a 99,839 square foot supermarket adjacent to retailers Ross Dress for Less, Hobby Lobby, Academy Sports, Five Below, West Marine, and ULTA. The supermarket is located in New Bern, NC, along the highly trafficked Dr. Martin Luther King Jr. Blvd (37,500 VPD). Additionally, it is a part of the 4th most visited shopping center within 30 miles.

Investment Highlights

  • 8TH MOST VISITED STORE IN THE ENTIRE CHAIN
    • 1.24M Annual Visitors
  • 16+ YEARS WALT REMAINING
  • HIGH-TRAFFICKED HARRIS TEETER: SUPPORTED BY ~$48M IN SALES
  • COMPLEMENTARY POWER CENTER WITH NATIONAL RETAILERS ROSS, ACADEMY SPORTS, ULTA, HOBBY LOBBY & MORE
  • COASTAL LOCATION PROVIDES HIGH BARRIERS TO ENTRY
  • RARE CORPORATELY-GUARANTEED HARRIS TEETER GROUND LEASE (NYSE: KR)
  • INVESTMENT GRADE CREDIT (S&P: BBB | MOODY’S: Baa1)
  • PROPERTY OFFERED UNENCUMBERED OF EXISTING DEBT


Last Updated Date: 16 Jun 2022

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Last Updated Date: 16 Jun 2022

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