201 Mackenan Dr
Cary, NC 27511
Office Property For Sale

The subject property is a 13,307 square foot single-tenant Chesterbrook Academy located in Cary, North Carolina. The triple-net lease has limited landlord responsibilities and has a corporate guarantee from Nobel Learning Communities, Inc., a network of over 180 private schools in the United States. Over five years remain on the primary term, and the tenant has three, five-year options for renewal. The base rent increases by CPI adjustment every five years, not to exceed 8% cumulative for each five years. The building was constructed in 1992 and sits on 1.93 acres. The subject property is located on the hard corner of MacKenan Drive and Gregson Drive, just north of Claude E. Pope Memorial Highway (Hwy 1). Neighboring tenants include The Pantry convenience store, Physicians Pharmacy, Triangle Math and Science Academy, Homewood Suites, Siemens Healthcare, Mariposa School for Children, Pepsi Bottling Ventures, American Airlines Federal Credit Union, and others. The surrounding area has excellent demographics, with a one mile average household income of over $152,000 and the five mile population of approximately 157,800 residents.