Legacy Realty Group Advisors Represents Buyer In $11.6M Sale Of Centre Pointe Plaza In Smithfield NC
1201 North Brightleaf Boulevard & 1271 North Brightleaf Boulevard
$11,600,000
$36/SF
Building Size
318,518 SF
Asset Type
Retail
Closing
Mar 18, 2025
AI
A retail property located at 1201-1271 North Brightleaf Boulevard in Smithfield, NC was sold for $11,600,000. The asset comprises 159,259 square feet and has a price per square foot of $73. The shopping center, built in 1989, is anchored by Belk, with other tenants including Bealls, Dollar Tree, and T-Mobile.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $11,600,000
- Address: 1201-1271 North Brightleaf Boulevard
- Market: Smithfield, NC
- Square Footage: 159,259 SF
- Price Per Square Foot: $73
- Buyer's Representative: Daniel Baruch - Legacy Realty Group Advisors
- Seller's Representative: Steve Shields - CBRE
The sale was facilitated by Legacy Realty Group Advisors, which arranged the transaction involving Centre Pointe Plaza. The deal reflects the involvement of key industry professionals, highlighting the collaboration between the buyer's representative and the seller's representative in managing this retail asset transaction.
Players
Smithfield Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.37%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93