ATTRACTIVE LEASE FUNDAMENTALS
- Each Tenant has signed a new 10 years Lease and are corporate guarantees
- Both leases have 2+ options remaining
- Each lease provides 10% rental increases every 5 years in the base term and option periods providing a strong inflation hedge
STRONG CREDIT TENANTS
- Heartland Dental (1,800+ Locations)
- Caribou Coffee (over 800 locations globally, part of Panera Brands backed by JAB Holding)— providing strong institutional backing and enhancing investment stability
- Together, these tenants deliver a low risk of default and stabilized cash flow
DENSE RETAIL NODE
- Located along Providence Rd, a heavily trafficked corridor with strong visibility
- Within a 1 mile radius is over 435K SF of retail space and a dense mix of grocery, QSR, and service oriented retail including Publix, Walgreens, and Harris Teeter
- The property benefits from high daily traffic counts and established co-tenancy in the trade area
SURROUNDED BY THOUSANDS OF NEW RESIDENTIAL UNITS
- Over 6,500 new housing units are planned or recently delivered within a 3-mile radius
- Waxhaw is one of the fastest-growing suburbs in the Charlotte MSA, attracting young families and professionals
- Strong residential demand supports steady retail traffic and tenant performance with an AHHI within a 1-mile radius of the site exceeding $179K
AFFLUENT MARKET OF CHARLOTTE MSA
- This site resides within the rapidly expanding Charlotte–Concord–Gastonia MSA, one of the fastest-growing metro areas in the U.S.
- Rapidly expanding town of Waxhaw, NC
- AHHI exceeds $160K in a 1-mile radius
- The Charlotte metro has surged by approximately 8.1 % since 2020, reaching around 2.88 million residents, well above the national growth rate of 2.6 %
NEW CONSTRUCTION
- This multi-tenant property is newly constructed with modern formats
- Heartland Dental paid for its build-out with warranties in place
- Caribou Coffee features a high-traffic drive-thru format designed for efficiency and convenience