Morganton Heights shopping center for sale. Asking price: $36 million

The shopping center, located at 400 Henredon Road off Fleming Drive, is for sale for $36.2 million. The asking price breaks down to $127 a square foot, according to the listing with CP Partners Commercial Real Estate Brokerage in California.

The shopping center, which makes up 284,566 square feet and sits on 61.26 acres with 1,338 parking spots, opened in 2013, according to the listing and previous News Herald stories.

While the sale does not include the Walmart Supercenter, that store is a big draw to the shopping center.

The shops that front the shopping center also are not included in the sale. Those properties include Applebee’s, Panera Bread and Aspen Dental and the strip of shops where Buffalo Wild Wings is located. In addition, it doesn’t include the Murphy Express or Sam’s Xpress car wash.

What is included as part of the sale is the property where other nationally and regionally known stores such as Belk, PetSmart, T.J. Maxx, Ross, Dollar Tree, Staples, Dick’s Sporting Goods, Ulta Beauty and Bath & Body Works are located.

The listing says T.J. Maxx is in the first of four leasing options and is scheduled for a rent increase at the end of 2028. Belk is paying a rent of $2.75 per square foot, and Ross, Dick’s, Jo-Ann Fabrics, Dollar Tree and PetSmart are in the first leasing option, displaying commitment to the shopping center, the listing says.

The listing says Staples, Verizon, GNC, AT&T and China King Buffet have all recently extended their leases, as has Nails R Us. Listing information says many of the tenants have been at the property since it was developed, with the average rent at $11.80 per square foot.

The listing says the properties are professionally managed and maintained by the current ownership group, WRS Real Estate Investments in South Carolina.

According to Placer.ai, Morganton Heights receives approximately 5.1 million annual visitors, and ranks in the top 25% of power centers in the state, the listing says.