For Auction

52% Occupied Target Shadow Anchored Power Center

1700 Market Lane,
Norfolk, NE 68701Represented by
Brookwood Capital

Asset Snapshot

Real Estate
Asset Type
Retail
Property Type
Power Center
Retail Subtype
1
Floor Count
1
Building Count
1,716
Parking Spots
19.94 Acres
Land Area
52%
Occupancy
Occupancy As Of
Yes
Anchor
Target (shadow), Famous Footwear, Hibbett Sports, JC Penny
Anchor Tenant(s)
238,704 SF
Property Size

Offering Summary

Investment Highlights 

  • NOI: $1,242,637.19 (see DD)
  • 80% of Roof under warranty-(see DD for more info)
  • 52% Occupied Target Shadow Anchored Center - True Value-Add 
  • 70% of NOI from National Tenants with extensions and high store sales
  • Value-Add: 115,176 Square-feet Vacant consisting of a 77,856 SF box and 11 shop spaces 
  • High Leasing Traction with LOI's from Kohl's, TJMaxx, Ulta, Old Navy, Planet Fitness, Dunham's, and Five Below (Call for info)
  • Target Grocery Shadow Anchored Center with Target owning their own parcel 
  • 1.06 Acre Outparcel Included in the Sale 
 

Offering Details

Brookwood Capital Advisors and RI Marketplace are pleased to present this 52% occupied power center in Norfolk, NE. The center benefits from high store sales, and recent extensions from the majority of tenants, with 48% vacancy (a true value add deal). The center's cash flow is over $1.2M annually (NOI after expenses), and the owners have received LOI's from 6 national tenants for the existing vacancy, an estimated increase of $18,000,000 in value (see full DD for cost benefit analysis). A future development is imminent post closing, increasing the value of the center, and Brookwood Capital can guide the future owners on a redevelopment strategy. 80% of the roof is currently under warranty, and the center benefits from it's main and main placement with several new outparcel developments including a Raising Canes. Target owns their own box directly, and provides a shadow anchor further increasing traffic to the power plaza. 



Property Walk Through: 
https://my.matterport.com/show/?m=M5Ebyr7MZCv&brand=0
 

Due Diligence

Transaction Manager

Damian Smoter
Marketplace
(800) 915-7015dsmoter@realinsight.com

Cooperating Broker Fee

Eligible brokers may receive a 2.00% fee when representing the winning bidder.

Learn more in the FAQs

Platform Fee

Buyer pays a minimum platform fee of 5% or $25,000 at closing.

How it Works

Learn about bidding, reserve prices, and closing.

Read the auction guide

Auctioneer

Lamar P. Fisher
Fisher Auction Company Inc.

Need Help?

Your transaction managers are your first point of contact for any auction or process questions. For additional support:

info@rimarketplace.com800-915-7015

Closed

This asset was part of the November 17th 2021 auction event, resulting in a successful transaction that closed in just 33 days.
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Investment Sales Brokers

Ben Hamd
Brookwood Capital
(202) 525-8991ben@brookwoodcapitaladv.com
WW
Wyatt Woeltje
Highland Capital
(731) 313-9048wyatt@highlandcpt.com

Disclaimers

The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.