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4050 Piedmont Pky
High Point, NC 27265
Office Property For Sale


Executive Summary
Jones Lang LaSalle Americas, Inc. ("JLL") has been exclusively retained to offer for sale the Mendenhall Business Park Portfolio (the "Portfolio," "Offering," or "Assets"), a 367,195 square foot, five-asset portfolio located in the fast-growing Greensboro-Winston-Salem-High Point (the "Triad") North Carolina market. The Portfolio consists of five office buildings across two distinct product types, offering investors complete disposition flexibility to acquire assets individually or as a whole portfolio.
Three Class A single-story office buildings:
• 4015 Meeting Way (30,875 SF, 100% occupied, .5-year WALT, built 2003, 4.04 Acres)
• 4135 Mendenhall Oaks Parkway (33,758 SF, 39.1% occupied, 4.3-year WALT, built 1999, 4.50 Acres)
• 4194 Mendenhall Oaks Parkway (26,752 SF, 67.3% occupied, 1.1-year WALT, built 1997, 3.10 Acres)
Two multi-story office buildings:
• 4050 Piedmont Parkway (220,562 SF, 65% occupied, 4.1-year WALT, built 1997, 21.65 Acres)
• 4100 Mendenhall Oaks Parkway (55,248 SF, 82.2% occupied, 1.37-year WALT, built 1998, 4.48 Acres)
Strategically located within one of the region's renowned master-planned business parks, the Portfolio offers exceptional connectivity between downtown Greensboro, Piedmont Triad International Airport, and High Point University. This offering presents investors a rare opportunity to acquire these assets well below replacement cost with complete disposition flexibility, as each asset has its own distinct strengths allowing for a variety of strategic opportunities.
Three Class A single-story office buildings:
• 4015 Meeting Way (30,875 SF, 100% occupied, .5-year WALT, built 2003, 4.04 Acres)
• 4135 Mendenhall Oaks Parkway (33,758 SF, 39.1% occupied, 4.3-year WALT, built 1999, 4.50 Acres)
• 4194 Mendenhall Oaks Parkway (26,752 SF, 67.3% occupied, 1.1-year WALT, built 1997, 3.10 Acres)
Two multi-story office buildings:
• 4050 Piedmont Parkway (220,562 SF, 65% occupied, 4.1-year WALT, built 1997, 21.65 Acres)
• 4100 Mendenhall Oaks Parkway (55,248 SF, 82.2% occupied, 1.37-year WALT, built 1998, 4.48 Acres)
Strategically located within one of the region's renowned master-planned business parks, the Portfolio offers exceptional connectivity between downtown Greensboro, Piedmont Triad International Airport, and High Point University. This offering presents investors a rare opportunity to acquire these assets well below replacement cost with complete disposition flexibility, as each asset has its own distinct strengths allowing for a variety of strategic opportunities.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
220,562 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
1998
Percent Leased
93%
Tenancy
Multiple
Building Height
4 Stories
Typical Floor Size
73,520 SF
Slab To Slab
15’
Building FAR
0.23
Lot Size
21.64 AC
Zoning
CU-LI - Commercial
Parking
1,340 Spaces (6.2 Spaces per 1,000 SF Leased)
Amenities
- Fitness Center
- Security System
- Signage
- Storage Space
- Air Conditioning
Property Taxes
| Parcel Number | 0207828 | Improvements Assessment | $22,375,000 |
| Land Assessment | $2,109,900 | Total Assessment | $24,484,900 |
Property Taxes
Parcel Number
0207828
Land Assessment
$2,109,900
Improvements Assessment
$22,375,000
Total Assessment
$24,484,900
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