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 with a vacant 37,023 former supermarket that sat vacant for over 5 years. Through our extensive network of brokers and retailers, we were able to quickly backfill this space with a national tenant occupying the entirety of the space and who signed a 10-year lease.
Our team assisted this landlord throughout the process and was actively involved in negotiating the LOI and all deal terms, the landlord work letter, and the lease through execution. We also collaborated with the local municipality as well as providing assistance to this landlord with local subcontractor challenges.
“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 other leasing assignments in the City of Laurinburg, North Carolina, the Carolina Commercial team developed a close working relationship with city leadership. The city came to us for ideas for developing city owned vacant land adjacent to a shopping center anchored by Belk and Food Lion, which they wanted to develop for retail and hospitality uses. We came to learn that Hobby Lobby was interested in this market.
Carolina Commercial negotiated a deal with the city for its acquisition of the vacant land which included an incentive package from the city intended to help Carolina Commercial land Hobby Lobby for the site. Carolina Commercial leveraged its long-time relationship with the exclusive brokers for Hobby Lobby and was able to negotiate and secure a lease with Hobby Lobby for the site. Hobby Lobby opened for business 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 hired Carolina Commercial to lease a vacant 43,000 square foot former Walmart that sat vacant for over two years. Winona is a town of only 4,500 people and Walmart had decided to leave the town entirely.
In less than six months, Carolina Commercial was able to secure LOIs from two national tenants. The landlord decided to move forward with one of those LOIs for a 10-year, AS IS, deal with Home Hardware for the entire 43,000 square feet. Home Hardware invested over $800,000 in the space and is open and doing great business. This location ranks in the top 15% of all Home Hardware location nationwide.
KAREN HUTTON, CEO
HUTTON PROPERTIES