1100 Chancellor Park Dr
Charlotte, NC 28213
Lowe's Home Improvement · Retail Property For Sale

Steve Horvath and Ransome Foose of Berkeley Capital Advisors are pleased to present for sale, Lowe's Home Improvement in Charlotte, NC. We welcome your review of this attractive investment. Highlights are as follows: RECASTED LEASE: Lowe's recently extended the term of the original lease to December 31, 2026. There are just shy of 10 years remaining on the original lease term with six, five year options. LOWER PRICE POINT FOR FREESTANDING LOWE'S | INEXPENSIVE RSF: Extremely attractive price point due to the low rent, and therefore well-below the average Lowe' s sales price. At base rent of only $4.38 PSF, the resulting capitalized value is excellent versus cost approach. HIGH TRAFFIC COUNTS: A handful of highly trafficked major roads are located nearby and are accessible to the Lowe' s site. Lowe' s is positioned on E. W.T. Harris Boulevard (46,479 VPD), which crosses over University City Boulevard (38,447 VPD) roughly one-quarter mile down the street. One and a half miles away is I-85, one of Charlotte' s busiest highways that sees roughly 140,000 VPD. STRONG POPULATION DENSITY AND GROWTH: The immediate subject area is a well-known dense Charlotte submarket of the University that has experienced expansive growth over the years. Within a three-mile radius, 77,801 people reside with a household growth increase of 68.63% since 2000. UNIVERSITY OF NORTH CAROLINA CHARLOTTE GROWTH: Enrollment at UNCC for 2014-15 was 28,062. Combine that with approximately 4,000 faculty and staff, there is a community of over 32,000 sitting at the northeast edge of the city. The subject Lowe's is right down the street from the University. S&P A- INVESTMENT GRADE CREDIT: Lowe' s Companies, Inc. is a FORTUNE 50 home improvement company serving more than 17 million customers a week in the United States, Canada and Mexico. With fiscal year 2015 sales of $59.1 billion, Lowe's has more than 2,355 home improvement and hardware stores and 285,000 employees. They are rarely available and a highly sought after investment grade tenant in the net lease space with a credit rating of A3/A-. Furthermore, the company headquarters is very close to this asset.