Lehmberg Crossing Shopping Center will be offered for sale in a private online auction that begins Oct. 31.
Commercial real estate auction company Ten-X posted the sale, slated to run through Nov. 2, in late September. The opening bid is $700,000 and participants must state their total assets and sign confidentiality agreements to register for the online auction. Colliers International is the listing agent.
Lehmberg Crossing Partners LLC owns the shopping center at 907-935 Alabama St. It was built in 2000 and is home to 13 businesses, including a licensed AT&T franchisee, Fish Baskets and King’s Smoke and Tobacco Shop, among others. It is located adjacent to McDonald’s and the Marvin’s hardware store, but the center does not include those properties.
According to the auction listing, Colliers and Ten-X are marketing the property as a 31,700 square-foot retail space sitting on 4.4 acres. The shopping center’s occupancy currently sits at 90 percent.
The listing states the property is expected to sell for less than the current owner would have to pay to replace it, and at a lower price per square foot, while also taking note of the location’s inherent advantages.
“The property’s prime location exposes it and provides easy access to strong demographics in the area,” the listing reads. “Alabama Street continues west from the property becoming Main Street, which bisects the city of Columbus. Traffic directly along Alabama Street reaches over 10,000 vehicles per day, and Columbus Center provides pylon signage along the roadway to capture customer attention.”
Company representatives from both Lehmberg and Colliers declined to comment on details of the auction when reached by The Dispatch.
Ten-X Asset Manager Cheri Mascitelli did not return calls made by The Dispatch by press time.
Lowndes County Tax Assessor/Collector Greg Andrews estimated in 2021 the property to be worth $1.98 million.
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