Former Kmart property sold to developer

Advantis Real Estate Services Co. arranged the sale of the former 93,000-square-foot Kmart in Elizabeth City, N.C.

The value of the transaction was $3.8 million. 

The property, renamed the Farm Fresh Elizabeth City Center, is located on Hughes Boulevard.

Elizabeth City Associates LLC sold the property to Norfolk, Va.-based developer RMEC LLC.

RMEC plans to develop the site for supermarket Farm Fresh and other retail space. Farm Fresh will occupy 63,000 square feet of the building. The new store is expected to open in early 2005. 

Advantis/GVA is a full-service real estate firm that leases, manages and sells office, industrial, retail and other commercial real estate projects and sites.

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