Greensboro, NC Cleeman Realty Group negotiated the $5.6 million off-market sale of a free-standing Food Lion grocery store. The subject property features stoplight access, visibility and is location at the intersection of Cottage Place and Lawndale Dr. which see a combined average traffic count in excess of 30,000 VPD. The property is located on 3.21 acres and consists of 36,000 s/f that is net leased to Food Lion. This location has been a grocery store since 1987.
Michael Cleeman and Sam Seelenfreund of Cleeman Realty Group represented the buyer and seller.
“The buyer was looking to add to a portfolio of net lease supermarkets and the seller was looking to capitalize on the strong demand for this type of asset,” said Cleeman. “The seller was looking to capitalize on the cap rate compression in the current market for strong credit tenant supermarkets” said Seelenfreund
Cleeman Realty Group is a full-service real estate advisory and investment group, specializing in the investment sales of retail, multifamily and industrial properties throughout the United States.