Grandview Plaza, Pfafftown, Winston-Salem, North Carolina
Built in 1996, Grandview Plaza is a neighbourhood shopping centre anchored by Food Lion supermarket (part of Delhaize Group). The major tenant occupies approximately 33,075 square feet of the 54,605 square feet centre and contributes 52% of the total income.
- Purchase Price (USD)
- 6,000,000
- Lease Expiry (from July 1 2008)
- 6.7 years by income
- Major Tenant
- Food Lion (Delhaize Group)
- Expiry (Major Tenant)
- December 2016
- Building Area
- 54,605 square feet
- Site Area
- 430,820 square feet
- Car Spaces
- 329
Location
Grandview Plaza is located in Pfafftown, a suburb of Winston-Salem, North Carolina. The catchment area is experiencing growth of 1.6% per annum and has an affluent demographic. A strong presence from Wachovia, AON Consulting, Dow Corning, Frisby Technologies, Pepsi Cola Customer Service Center and Sara Lee Corporation supports the growing economy of Winston-Salem. In a trade area analysis undertaken by Deep End Services it estimated that:
- The population growth rate within the catchment area is expected to average 1.9% per annum between 2006 and 2011
- The area is best characterised as stable and affluent
- The Food Lion supermarket is expected to increase turnover at an average rate of 2.2% per annum between 2006 and 2011.