Exhibit 4.1

SEAL 6/23/11 MARYLAND THIS CERTIFIES THAT is the owner of DATED COUNTERSIGNED AND REGISTERED: COMPUTERSHARE TRUST COMPANY, N.A. TRANSFER AGENT AND REGISTRAR, FULLY - PAID AND NON - ASSESSABLE SHARES OF THE COMMON STOCK OF Wheeler Real Estate Investment Trust, Inc . (hereinafter called the “Company”) , transferable on the books of the Company in person or by duly authorized attorney, upon surrender of this Certificate properly endorsed . This Certificate and the shares represented hereby, are issued and shall be held subject to all of the provisions of the Charter, as amended, and the By - Laws, as amended, of the Company (copies of which are on file with the Company and with the Transfer Agent), to all of which each holder, by acceptance hereof, assents . This Certificate is not valid unless countersigned and registered by the Transfer Agent and Registrar . Witness the facsimile seal of the Company and the facsimile signatures of its duly authorized officers . COMMON STOCK PAR VALUE $0.01 COMMON STOCK . WHEELER REAL ESTATE INVESTMENT TRUST, INC. By AUTHORIZED SIGNATURE Chief Financial Officer General Counsel and Corporate Secretary SEE REVERSE FOR CERTAIN DEFINITIONS THIS CERTIFICATE IS TRANSFERABLE IN CITIES DESIGNATED BY THE TRANSFER AGENT, AVAILABLE ONLINE AT www.computershare.com CUSIP 963025 83 8 ZQ|CERT#|COY|CLS|RGSTRY|ACCT#|TRANSTYPE|RUN#|TRANS# DD - MMM - YYYY Shares * * 000000 ****************** * * * 000000 ***************** **** 000000 **************** ***** 000000 *************** ****** 000000 ************** INCORPORATED UNDER THE LAWS OF THE STATE OF MARYLAND ** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** M r. Alex ander David Sample **** Mr. Alexan der David Sam ple *** * Mr. Alexander Dav id Sa mple * *** Mr. Al exander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sam ple **** Mr. Alexander David Sa mple **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Sample **** Mr. Sample **000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares* *** 000000**Shares*** *000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares** **0 00000**Shares**** 000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares*** *00 0000**Shares****0 00000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares**** 000 000**Shares****00 0000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****0 000 00**Shares****000 000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****00 000 0**Shares****0000 00**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000 000 **Shares****00000 0**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****0000 00* *Shares****000000 **Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****00000 0** Shares****000000* *Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000 **S hares****000000** Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000* *Sh ares****000000**S ***ZERO HUNDRED THOUSAND ZERO HUNDRED AND ZERO*** MR. SAMPLE & MRS. SAMPLE & MR. SAMPLE & MRS. SAMPL E Certificate Number ZQ00000000 1 2 3 4 5 6 1 2 3 4 5 6 1 2 3 4 5 6 7 CUSIP/IDENTIFIER Holder ID Insurance Value Number of Shares DTC Certificate Numbers 1234567890/123456789 0 1234567890/123456789 0 1234567890/123456789 0 1234567890/123456789 0 1234567890/123456789 0 XXXXXX XX X XXXXXXXXX X 1,000,000.0 0 123456 12345678 123456789012345 Num/No. Denom. Tota l MR A SAMPLE DESIGNATION (IF ANY) ADD 1 ADD 2 ADD 3 ADD 4 PO BOX 43004, Providence, RI 02940 - 3004

The IRS requires that we report the cost basis of certain shares acquired after January 1, 2011. If your shares were covered by the legislation and you have sold or transferred the shares and requested a specific cost basis calculation method, we have processed as requested. If you did not specify a cost basis calculation method, we have defaulted to the first in, first out (FIFO) method. Please visit our website or consult your tax advisor if you need additional information about cost basis. If you do not keep in contact with us or do not have any activity in your account for the time periods specified by state law, your property could become subject to state unclaimed property laws and transferred to the appropriate state. Shares Attorney Dated: 20 Signature: Signature: Notice: The signature to this assignment must correspond with the name as written upon the face of the certificate, in every particular, without alteration or enlargement, or any change whatever. PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE For value received, hereby sell, assign and transfer unto (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING POSTAL ZIP CODE, OF ASSIGNEE) of the new common stock represented by the within Certificate, and do hereby irrevocably constitute and appoint to transfer the said stock on the books of the within - named Company with full power of substitution in the premises. Signature(s) Guaranteed: Medallion Guarantee Stamp THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (Banks, Stockbrokers, Savings and Loan Associations and Credit Unions) WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad - 15 . . WHEELER REAL ESTATE INVESTMENT TRUST, INC. TH E COMPANY WIL L FURNISH TO ANY STOCKHOLDER, O N REQUES T AND WITHOU T CHARGE, A FULL S TA TEMEN T O F TH E INFORM A TIO N REQUIRED B Y SECTION 2 - 211 (B) O F TH E CORPORATIONS AND ASSOCI A TION S ARTICLE O F TH E ANNO TA TE D CODE O F MARYLAND WIT H RESPECT TO TH E DESIGN A TION S AND ANY PREFERENCES, CONVERSION AND OTHER RIGHTS , VOTIN G POWERS, RESTRICTIONS , LIMI TA TION S A S TO DIVIDENDS AND OTHE R DISTRIBUTIONS , QUALIFIC A TIONS , AND TERM S AND CONDITION S O F REDEMPTIO N O F THE S T OC K O F EACH CLASS WHICH TH E COMPANY HAS AUTHORIT Y TO ISSU E AND, IF TH E COMPANY I S AUTHORIZE D TO ISSU E ANY PREFERRED O R SPECIAL CLASS I N SERIES , (I ) TH E DIFFERENCES I N TH E RELATIVE RIGHT S AND PREFERENCES BETWEE N TH E SHARES O F EACH SERIE S TO TH E EXTEN T SET, AND (II) TH E AUTHORIT Y O F TH E BOARD O F DIRECTORS TO SE T SUCH RIGHT S AND PREFERENCES O F SUBSEQUENT SERIES , THE FOREGOIN G SUMMARY DOE S NO T PURPORT TO B E COMPLET E AND I S SUBJECT TO AND QUALIFIE D I N IT S ENTIRET Y B Y REFERENCE TO TH E CHARTER OF TH E COMPANY, A COP Y O F WHICH WILL B E SEN T WITHOU T CHARGE TO EACH STOCKHOLDER WH O S O REQUESTS , SUCH REQUES T MUST B E MADE TO TH E SECRETARY O F TH E COMPANY AT IT S PRINCIPAL OFFICE . TH E SHARES REPRESENTED B Y THI S CERTIFICATE ARE SUBJECT TO RESTRICTION S O N BENEFICIA L AND CONSTRUCTIVE OWNERSHI P AND TRANSFER FOR TH E PURPOSE O F TH E COMPANY’S MAINTENANCE O F IT S S TA TU S A S A REAL ES TA T E INVESTMEN T TRUS T UNDER TH E INTERNAL REVENUE CODE O F 1986 , A S AMENDED (THE “CODE”) . SUBJECT TO CERTAIN FURTHER RESTRICTION S AND EXCEP T A S EXPRESSLY PROVIDED I N TH E COMPANY’S CHARTER, (I ) N O PERSON M A Y BENEFICIALLY OW N O R CONSTRUCTIVELY OW N SHARES O F TH E COMPANY’S COMMON S T OC K I N EXCESS OF 9 . 8 % (IN VALUE O R NUMBER O F SHARES) O F TH E OUTSTANDING SHARES O F COMMON S T OC K O F TH E COMPANY UNLESS SUCH PERSON I S AN EXCEPTED HOLDER (IN WHICH CASE TH E EXCEPTED HOLDER LIMI T SHALL B E APPLICABLE) ; (II) N O PERSON M A Y BENEFICIALLY OW N O R CONSTRUCTIVELY OW N SHARES O F CAPITAL S T OC K O F TH E COMPANY I N EXCESS O F 9 . 8 % O F TH E VALUE O F THE TOTAL OUTSTANDING SHARES O F CAPITAL S T OC K O F TH E COMPANY, UNLESS SUCH PERSON I S AN EXCEPTED HOLDER (IN WHICH CASE TH E EXCEPTED HOLDER LIMI T SHALL B E APPLICABLE) ; (III) NO PERSON M A Y BENEFICIALLY OW N O R CONSTRUCTIVELY OW N CAPITAL S T OC K THAT WOULD RESULT I N TH E COMPANY BEIN G “CLOSELY HELD” UNDER SECTION 856 (H) O F TH E CODE O R OTHE R WISE CAUSE TH E COMPANY TO FAIL TO QUALIF Y A S A REIT ; AND (IV ) N O PERSON M A Y TRANSFER SHARES O F CAPITAL S T OC K IF SUCH TRANSFER WOULD RESULT I N TH E CAPITAL S T OC K O F TH E COMPANY BEIN G OWNE D B Y FEWE R THAN 100 PERSONS . ANY PERSON WH O BENEFICIALLY OWN S O R CONSTRUCTIVELY OWN S O R A TTEMPT S TO BENEFICIALLY OW N O R CONSTRUCTIVELY OW N SHARES OF CAPITAL S T OC K WHICH CAUSES O R WIL L CAUSE A PERSON TO BENEFICIALLY OW N O R CONSTRUCTIVELY OW N SHARES O F CAPITAL S T OC K I N EXCESS OR I N VIOL A TIO N O F TH E ABOV E LIMI TA TIONS MUST IMMEDI A TE L Y NOTIF Y TH E COMPANY . IF ANY O F TH E RESTRICTION S O N TRANSFER O R OWNERSHI P SE T FORTH I N (I ) THROUGH (III) ABOV E ARE VIOL A TED , TH E SHARES O F CAPITAL S T OCK REPRESENTED HEREBY WIL L B E AUTOMATICALLY TRANSFERRED TO A TRUSTE E O F A TRUS T FO R TH E BENEFI T O F ON E O R MOR E CHARITABLE BENEFIC I ARIES . I N ADDITION , TH E COMPANY M A Y TAKE OTHE R ACTIONS , INCLUDING REDEEMING SHARES UPON TH E TERM S AND CONDITION S SPECIFIE D B Y TH E BOARD O F DIRECTORS I N IT S SOL E AND AB S OLUT E DISCRETIO N IF TH E BOARD OF DIRECTORS DETERMINES THAT OWNERSHI P O R A TRANSFER O R OTHE R EVEN T M A Y VIOL A T E TH E RESTRICTION S DESCRIBED ABOVE . FURTHERMORE, UPON TH E OCCURRENCE O F CERTAIN EVENTS, A TTEMPTE D TRANSFERS I N VIOL A TIO N O F TH E RESTRICTION S DESCRIBED ABOV E M A Y B E VOI D A B INITIO . ALL CAPI T ALIZE D TERM S I N THI S LEGEND HAVE TH E MEANING S DEFINED I N TH E CHARTER O F TH E COMPANY, A S TH E SAM E M A Y B E AMENDED FRO M TIM E TO TIME , A COP Y O F WHICH, INCLUDING TH E RESTRICTION S O N TRANSFER AND OWNERSHIP, WIL L B E FURNISHED TO EACH HOLDER O F CAPITAL S T OC K O F TH E COMPANY O N REQUES T AND WITHOU T CHARGE . REQUEST S FO R SUCH A COP Y M A Y B E DIRECTED TO TH E SECRETARY O F TH E COMPANY AT IT S PRINCIPAL OFFICE . IF THIS CERTIFICATE IS LOST, STOLEN OR DESTROYED, THE COMPANY WILL REQUIRE A BOND OF INDEMNITY AS A CONDITION TO THE ISSUANCE OF A REPLACEMENT CERTIFICATE . The following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable laws or regulations: (Cust) (Minor) TEN COM - as tenants in common UNIF GIFT MIN ACT - ............................................ Custodian................................................ TEN ENT - as tenants by the entireties under Uniform Gifts to Minors Act........................................................ JT TEN (State) UNIF TRF MIN ACT - ............................................ Custodian (until age................................ ) - as joint tenants with right of survivorship and not as tenants in common (Cust) ............................. under Uniform Transfers to Minors Act................... (Minor) (State) Additional abbreviations may also be used though not in the above list.