August 22, 2024 – Franklin Street is excited to announce the successful sale of the IGA Grocery Shopping Center Portfolio, which includes properties at 806 E 5th Street, Tabor City, NC 28463, and 116 N Walnut Street, Fairmont, NC 28340.
Franklin Street facilitated the transaction, marking Joe Lombardo’s first closing with the firm. The portfolio encompasses 51,800 square feet across 1.51 acres in Tabor City and 7.13 acres in Fairmont, featuring notable tenants such as the national grocery chain IGA, Walgreens, and Maxway. With a 100% occupancy rate, this investment is strategically located along high-traffic roads, ensuring excellent visibility and accessibility.
Joe Lombardo commented, “This deal showcases our team’s connections and market expertise. We secured an all-cash 1031 buyer ready to perform, ensuring a smooth transaction for everyone involved.”
The properties are ideally situated near other retail tenants and along the route to Myrtle Beach, attracting significant traffic from the 19 million annual visitors to the area.Mike J, the property owner, stated, “Joe and his team at Franklin Street were key in selling my properties. They kept me informed every step of the way. I highly recommend Joe and his team for selling your commercial property.”
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About Franklin Street:
Founded in 2006 during one of the toughest real estate climates, Franklin Street focuses on delivering value-added solutions to meet evolving client needs. With seven business divisions and $10 billion in transaction value across all major product types, Franklin Street offers unmatched value and optimal solutions for clients nationwide. Headquartered in Tampa, Fla., the firm has teams in top markets throughout the country.
