Kress

Samuel Kress founded S.H. Kress & Co. in 1896 and developed five-and-dime stores nationwide. Kress was an avid art collector and took pride in creating beautiful buildings, such as the one he opened in downtown Salisbury, NC on September 17, 1910. The Kress Company’s strong commitment to architectural excellence led it to form its own architectural division, charged with overseeing all aspects of store design. Mr. Kress viewed his stores as architectural gifts to the communities in which they were located. Known for erecting expensive buildings and using the finest materials, Kress constructed stores that were typically more elaborate and structurally sound than those of its competitors.

With approximately 20,000 square feet restored in this historic commercial building in Downtown Salisbury, NC this project represents an opportunity to own part of a top-tier redevelopment project. The Kress Plaza, referred to as Salisbury’s “Icon of Beauty”, is located in the heart of the entertainment district of Salisbury’s thriving downtown which has seen over $100 million of investment. This project was developed by Mr. Kress with both quality and passion from its conception back in 1910 and has been redeveloped today with those same qualities. The Kress Plaza is a one-of-a-kind project in a special community.

Market Information Statistics

Downtown Salisbury serves a primary market of 79,668 in the surrounding 4 zip code area, and 330,000 within the 19 zip code secondary market. Over 3.2 million people are within a one hour drive of Salisbury and 7 of NC’s 8.4 million people are within a 150 mile radius of Salisbury.

Employment in Downtown

Over 4,500 people are employed in the downtown census tract. Over 2,900 of those employed are in private sector jobs and more than half of those are in the categories of business services, retail and professional services. The downtown remains the center of County and City government with over 1,700 employed in the public sector.

Downtown Development

Salisbury is a Main Street Community that has benefited from over $102 million in downtown investment since 1980 (over $40 million since 2001). Salisbury has around 130 living units in the downtown and is actively growing a residential population. The downtown boasts 75 shops and 15 restaurants and has become a popular night time destination. A growing arts community and a public art program have added to the ambiance of the downtown. The City recently embarked on a $30+ million dollar effort to create a City Wide high speed fiber optic network that will offer infrastructure to grow high tech businesses dependent upon increased bandwidth and speed.

Location

The Kress Plaza is located in beautiful Historic Downtown Salisbury, North Carolina.  Referred to as Salisbury’s “Icon of Beauty”, the Kress Plaza is located in the heart of the entertainment district of Salisbury’s thriving downtown which includes a divers offering of restaurants, office spaces, residential condos and nightlife including the Historic Meroney Theatre, a 360 seat performing arts theatre.   The site is adjacent to a proposed $18 million dollar hotel redevelopment project planned by Empire Properties of Raleigh, NC.  The site is also adjacent to the Fisher Street Entertainment District offering additional restaurants and nightlife. The location for a second performing arts theatre with 250 seats was purchased by Piedmont Players, operators of the Meroney Theatre, and is currently undergoing a $3 million up-fit. Salisbury is a charming southern City that reflects an authentic Historic main street experience and sits in the heart of the Carolinas.

Features:

Commercial / Retail / Business Flex-Space

1600 - 6342 sq. ft. Main Street Level

Additional basement space available

Main Street corner location in heart of entertainment district

Quality Historic Renovation throughout

Original terrazzo floors with brass inlays

Sixteen foot original architectural ceilings with original “Bell & Hook” lights

Large double showcases with eleven foot curved glass

Five luxury residential condominiums located on second floor