Sycamore Square — 3308 Bragg Blvd. Fayetteville, NC 28303
NEW YORK, New York – Nassimi Realty, LLC is excited to announce the sale of the Sycamore Square shopping center in Fayetteville, North Carolina to a real estate investment company based in North Carolina.
Nassimi Realty, LLC is very pleased at the sale of our 256,000 Sq. Ft. shopping center located in the densely populated Fayetteville, NC. They have owned the asset since 2006 and have done a great job of redeveloping the property and adding many quality national tenants.
Sycamore Square is a strong regional grocery anchored center by one the state’s strongest grocers in Food Lion. The center also has other strong national and regional retailers like Kimbrell’s, Family Dollar, Citi Trends, Rainbow, Hibbett Sports, Rent A Center, Subway, and many more.
Sycamore Square was sold to a real estate investment company based in North Carolina. Nassimi worked directly with the Marcus & Millichap team of Erin Patton out of the Columbus, OH office and Andrew Margulies out of the Raleigh, NC office on this transaction.
Kevin Nassimi of Nassimi Realty, LLC says, “While I’m sad to see this property go from our portfolio, we felt it was the right time for us to divest from the asset. I have spent countless hours working and traveling to this site over the past years, look forward to acquiring a new property to take that attention.”
Erin Patton of Marcus & Millichap says, “Everyone worked hard to get this transaction completed during these challenging times and the ultimate sale was a great outcome for all involved.”
Andrew Margulies of Marcus & Millichap says,”The sale of Sycamore Square reflects a national trend with investors seeking grocery anchored properties that have performed well in a turbulent real estate market.“
Nassimi Realty, LLC is proud to share that the team has assembled an impressive and distinct portfolio totaling in owning over 6 million square feet of real estate. Nassimi reports that the real estate market is picking back up and they look forward to many more acquisitions, sales, and leases. They expect commercial real estate to start moving forward for many businesses and retailers across their properties in the weeks to come.