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Posted: June 4, 2019
Outside the Region: Gorjian Acquisitions buys 41,318 s/f Eastside Shopping Center in N.C.
Fayetteville, NC Joel Gorjian, a national real estate investor and president and CEO of Gorjian Acquisitions, has purchased the 41,318 s/f Eastside Shopping Center at 1322 Clinton Rd. The seller was a privately owned real estate investment firm. The deal was valued over $1 million.
The Eastside Shopping Center was an acquisition target due to its 100% occupancy, long-term leases, and its strong mix of regional and local tenants. This latest purchase brings Gorjian Acquisitions’ national ownership interest portfolio to 62 properties totaling seven million s/f.
The firm has acquired more than 25 properties across the country in the last 18 months and is currently pursuing additional opportunities in the Southeast, Southwest, Midwest, and Northeast.
The Eastside Shopping Center is a one-story retail strip mall situated on 4.2-acres, on the left bank of Cape Fear River and near Highway 24 and its intersection with I-95. The 100% leased property has visibility from Highway 24 and Clinton Rd., and features Family Dollar and Harbor Freight Tools as anchor tenants.
With the metropolitan area’s population of 387,000, the city is the sixth-largest city in the state. In addition to military facilities, it is a home to several large commercial and defense companies as well as cultural establishments, such as General Dynamics, Purolator, and the U.S. Army Airborne & Special Operations Museum.
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