{"id":1004622198,"date":"2022-11-10T05:31:15","date_gmt":"2022-11-10T13:31:15","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004622198"},"modified":"2022-12-09T02:26:13","modified_gmt":"2022-12-09T10:26:13","slug":"north-carolina-retail-asset-trades-in-1031-exchange","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/north-carolina-retail-asset-trades-in-1031-exchange\/","title":{"rendered":"North Carolina Retail Asset Trades in 1031 Exchange"},"content":{"rendered":"<div id=\"attachment_1004624021\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/11\/gene-gallin-LGU7Y25AZ9s-unsplash.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004624021\" data-attachment-id=\"1004624021\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/north-carolina-retail-asset-trades-in-1031-exchange\/gene-gallin-lgu7y25az9s-unsplash\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/11\/gene-gallin-LGU7Y25AZ9s-unsplash.jpg\" data-orig-size=\"1200,900\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Harris Teeter grocery store\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Harris Teeter. Image by Gene Gallin via Unsplash&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/11\/gene-gallin-LGU7Y25AZ9s-unsplash.jpg?w=1024\" class=\"wp-image-1004624021 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/11\/gene-gallin-LGU7Y25AZ9s-unsplash.jpg?w=300\" alt=\"Harris Teeter grocery store in northeast Chatham County, North Carolina\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/11\/gene-gallin-LGU7Y25AZ9s-unsplash.jpg 1200w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/11\/gene-gallin-LGU7Y25AZ9s-unsplash.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/11\/gene-gallin-LGU7Y25AZ9s-unsplash.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/11\/gene-gallin-LGU7Y25AZ9s-unsplash.jpg?resize=1024,768 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004624021\" class=\"wp-caption-text\">Harris Teeter. Image by Gene Gallin via Unsplash<\/p><\/div>\n<p><strong>Central Ave. Corp. <\/strong>has acquired the ground lease of a 99,839-square-foot Harris Teeter grocery store in New Bern, N.C. <strong>JLL Capital Markets <\/strong>brokered the 1031 deal on behalf of the seller, a joint venture between <strong>Columbia Development Group<\/strong> and <strong>Lubert Adler<\/strong>. According to public records, the property traded for $18.3 million.<\/p>\n<p>Located at 3565 Martin Luther King Jr. Blvd., the store is part of the New Bern Marketplace retail center, which boasts\u00a0more than 2.8 million visits per year. Harris Teeter alone attracts roughly 1.2 million annual visits, according to <em>placer.ai<\/em>, making it\u00a0the eighth most visited store in the entire chain.<\/p>\n<p>Situated 4 miles from downtown New Bern, in an area where the daily car traffic reaches approximately 37,500 vehicles, the retail center serves residents living within a 20-mile radius of the property. Other tenants at the site include Ross Dress for Less, Hobby Lobby, Academy Sports, Five Below, West Marine and ULTA.<\/p>\n<p>The JLL team involved in the deal included Senior Managing Directors Alex Sharrin and Danny Finkle, along with Senior Director Tom Kolarczyk and Director Jeff Cicurel. Earlier this month, JLL was involved in the <a href=\"https:\/\/www.commercialsearch.com\/news\/boulder-area-retail-center-commands-74m\/\">$73.8 million sale of Harvest Junction<\/a>, a 364,000-square-foot retail asset in Longmont, Colo.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The deal involved the ground lease of a 100,000-square-foot Harris Teeter supermarket.<\/p>\n","protected":false},"author":3030,"featured_media":1004624021,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,21749],"tags":[33536,39747,32796,44006,40227],"class_list":["post-1004622198","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-retail","tag-1031-exchange","tag-columbia-development","tag-jll","tag-jll-capital-markets","tag-lubert-adler-partners-lp"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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