Description
Marcus & Millichap exclusively presents the opportunity to buy a free standing building tenanted by The Learning Experience located in the one of fastest growth markets in the United States in Charlotte, North Carolina. An investor will be able to take advantage of a new seventeen year double-net lease with one of the fastest growing child care operators in the United States. Supporting over 240 kids and 27 employees at this location, TLE is slated to open in early November 2009. They will have attractive 12.50% rental increases every five years with a Corporate Guarantee for the first 10 years of the lease with a maximum exposure up to $500,000. The Subject sits directly off of Exit 3 on I-485, otherwise known as the Charlotte Beltway, a newly created 67-mile beltway. Directly behind the Site is the new 700-acre Whitehall Mixed-Use Project, Whitehall Corporate Center, which upon completion will feature 16 mid-rise office buildings that will encompass over 2,000,000 square feet of Class A office space and 300,000 square feet of retail including Lowe's, Wal-Mart, Bi-Lo, Chili's Grill & Bar, Applebee's, McDonald's, IHOP, Arby's, and many more.
The Learning Experience is ideally located at 3937 West Arrowood Road, Charlotte, Mecklenburg County, North Carolina. The Subject sits within 100 feet off of Exit 3 on I-485, otherwise known as the Charlotte Beltway, a newly created 67-mile beltway that goes around the city of Charlotte, facilitating traffic from I-77 and I-85. At that exit there are traffic counts exceeding 65,000 cars per day. Currently, I- 485 in South Mecklenburg County is the 10th most heavily traveled highway in the state with traffic counts swelling to 107,000 vehicles per day. The Site is also within minutes of the City of Charlotte and Charlotte Douglas International Airport, which carries an average of 500 plus flights a day as well as more flights per capita than any other airport in the nation.
New development is occurring at a rapid pace in the southwest corridor. Currently over 6,000 homes and two and a half million square feet of office are currently planned for the Southwest market, which has the second highest employment base in both North and South Carolina.