101 New Market, Madison, NC 27025
Brookwood Capital Advisors and RealINSIGHT Marketplace are pleased to present New Market Madison (The Property) a 172,353 square foot center in Madison, NC. The center is currently leased to several national retailers responsible for 80% of the NOI. The Property was the former home of a K-Mart, which did $9 million in top line revenue annually. Following K-Mart’s corporate bankruptcy, the ownership group was able to divide the box into two retail spaces subsequently leased by two national tenants, Rose’s, and Half Priced Bargains. Rose’s (Variety Wholesalers) is a discount powerhouse, operating over 380 retail locations across the southeast. The company executed a five-year lease. Half Priced Bargains (annual sales of $33+ million) executed a ten-year lease, establishing their commitment to the market. Both companies plan to capitalize on a significant portion of the lost K-Mart revenue, providing them with the opportunity to capture a healthy rent-to-sales ratio. This redevelopment demonstrates the strength of the Piedmont Triad market, as well as the Class A nature of this center, and its ability tio draw national tenants.
See data vault.
Disclaimer: 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.
Fisher Auction Company Inc.