Case Studies
Claremont Commons | Claremont, North Carolina
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Vacant: 5+ Years
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Size of Vacancy: 37,023 SF
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Population: 1,740 (2024)
A national brokerage company referred a landlord to us who owned a shopping center in a small market. This 37,023-square-foot former supermarket had been vacant for over five years. Leveraging our extensive network of brokers and retailers, we quickly secured a national tenant to occupy the entire space under a 10-year lease.
Our team supported the landlord throughout the process, actively negotiating the Letter of Intent (LOI), deal terms, landlord work letter, and lease execution. We also collaborated closely with the local municipality and assisted the landlord in addressing challenges with local subcontractors.
“I have the privilege of working with leasing teams all over the country both large and small. Carolina Commercial executes and delivers as well as anybody in the business.
If it’s a vacant box in a small market, Carolina Commercial is who you hire. Period.”
BETH AZOR, FOUNDER
AZOR ADVISORY SERVICES, INC
Hobby Lobby | Laurinburg, North Carolina
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Vacant: 5+ Years
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Size of Vacancy: 55,000 SF
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Population: 14,994 (2024)
Through various leasing assignments in Laurinburg, North Carolina, the Carolina Commercial team built a strong working relationship with city leadership. The city approached us for ideas on developing city-owned vacant land adjacent to a shopping center anchored by Belk and Food Lion, aiming to expand the area for retail and hospitality purposes. During this time, we learned that Hobby Lobby had expressed interest in entering this market.
Carolina Commercial negotiated an agreement with the city for the acquisition of the vacant land, which included an incentive package designed to help secure Hobby Lobby for the site. Leveraging our long-standing relationship with Hobby Lobby’s exclusive brokers, we successfully negotiated and finalized a lease. Hobby Lobby officially opened its doors at this location on August 26, 2024.
“We owned a shopping center in a small market with a 34,000 square foot vacant box. We reached out to a national brokerage firm, who we have a relationship with, and they referred us to Carolina Commercial.
Carolina Commercial generated interest and produced a letter of intent from a national retailer almost immediately. Not only that, the team at Carolina Commercial remained fully engaged and active throughout the entire lease process, from LOI through delivery of the space to the tenant.
Carolina Commercial’s unique ability to generate leasing activ- ity in small markets led to the leasing of this vacant 34,000 square foot box, and their expertise helped lead to lease terms which allowed us to provide our investors with returns that exceeded projections, and ahead of schedule.
Nobody is better than Carolina Commercial!”
AARON LOEB, PRESIDENT
TIDE REALTY CAPITAL
Walmart | Winona, Mississippi
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Vacant: 2+ Years
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Size of Vacancy: 43,000 SF
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Population: 3,950 (2024)
A national landlord engaged Carolina Commercial to lease a vacant 43,000-square-foot former Walmart, which had been unoccupied for over two years. Located in Winona, a town of just 4,500 residents, the store had been vacated when Walmart decided to exit the town entirely.
Within six months, Carolina Commercial secured Letters of Intent from two national tenants. The landlord chose to proceed with a 10-year, “AS IS” lease with Home Hardware, occupying the entire 43,000 square feet. Home Hardware invested over $800,000 in renovations, and the store is now open and thriving. This location ranks in the top 15% of all Home Hardware locations nationwide.
KAREN HUTTON, CEO
HUTTON PROPERTIES