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Friday Five: Swapping locations, struggling retailers and high rent

Walgreens building in Harrisburg sold. I got an interesting press release this week from a Miami, Florida real estate company:

“Tiktin Real Estate Investment Services (TREIS), a leading commercial real estate investment sales brokerage firm, has announced the sale of a 13,813 square-foot free-standing building occupied by Walgreens at 4305 NC Highway 49S in Harrisburg, NC. Noble 4305 Hwy 49 Harrisburg NC, LLC sold the building to Mid-Atlantic Commercial Properties, LLC for $4.1 million. Adam J. Tiktin, president and broker of TREIS, represented the Seller in this transaction. Closing took place on Jan. 22nd.

“Situated on 1.72 acres on a signalized corner, the building is located on a main retail corridor adjacent to Publix, Food Lion and Aldi. Walgreens has just under three years remaining on its absolute triple-net lease.

“Harrisburg, NC is within the Charlotte MSA. Due to its proximity to Charlotte, NC and convenient highway access, Harrisburg has developed into one of the top ten most affluent zip codes in the Charlotte region. Harrisburg is projected to be one of the top five fastest growing municipalities in North Carolina over the next ten years, according to the Office of State Budget and Management (OSBM).”

I think we’ve all known that Harrisburg has been a hot real estate market for some time. Looks like the folks in Miami have found it. As Will Smith might say, “Bienvenidos a Harrisburg.” Some of you will get the reference.

Independent Tribune, 1.29.21

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