
King, NC Cleeman Realty Group negotiated the sale of Mountain View Plaza, a grocery anchored shopping center. The approximately 43,986 s/f center is on 9.86 acres and is anchored by a Food Lion, which has operated at the property since 2005.
Jeremy Scheer and Sara Shulman of Cleeman Realty Group represented both the buyer and the seller.
“The buyer was attracted to the strong performance of the Food Lion store and the opportunity to add value through leasing the remaining vacancy,” said Scheer.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,