07/16/2024
University Square Outlet Mall Sells for $8.5 Million, Highlighting Prime Investment Potential.
The University Square Outlet Mall, a premier retail property located at 806 S College Road, has been sold for an impressive $8.5 million. This 48,000-square-foot facility, situated on 3.85 acres of prime regional business-zoned land, boasts dual access points and outstanding visibility, making it a highly sought-after asset in the rapidly expanding Southeast North Carolina market.
The sale, which underscores the mall's exceptional location and recent enhancements made since 2019.
The explosive growth in Southeast North Carolina generated significant interest, resulting in a surge of competitive offers. Ultimately, the seller chose the offer that best aligned with their vision for the property’s future. Throughout the process, we engaged closely with the seller, and tenants, ensuring a smooth transaction, and contributing to the continued success of the development.
This sale not only reflects the property’s strong market appeal but also highlights the dynamic investment opportunities in the region.
Investors on Friday bought a 48,000-square-foot shopping center in Wilmington for $8.5 million. The center, University Square Outlet Mall at 806 S. College Road, is home to New Saigon International Market, Apple Annie’s Bake Shop, Long Island Eatery and Wilmington Furniture & Mattress Co., among....