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4301-4310-4320 Waterleaf Ct 3 Industrial Properties in Greensboro, NC
Investment Highlights
- 100% LEASED TO THE PRINTER OF THE POKÉMON TRADING CARDS
- HIGHLY FUNCTIONAL INDUSTRIAL ASSETS WITH OPTIONALITY
- NNN LEASE | EXTENDED THROUGH DECEMBER 2030 | 3.50% ANNUAL INCREASES
- HIGH CONNECTIVITY PIEDMONT TRIAD LOCATION
Executive Summary
100% LEASED TO THE PRINTER OF THE POKÉMON TRADING CARDS
? All three buildings are leased to Millennium Print Group, a manufacturer of trading and collectible cards and associated packaging and a wholly owned subsidiary of The Pokémon Company International. The Pokémon Company International agreed to acquire the company in April 2022 after seven years as its printing partner, and Millennium Print Group continues to operate as an autonomous organization with parent investment behind it.
? The Pokémon Company International is the international arm of The Pokémon Company of Tokyo, owned in roughly equal thirds by Nintendo, Game Freak and Creatures. The Pokémon Company reported net sales of $3.34 billion for the fiscal year ended February 28, 2026, up 29.3%, operating profit of $904 million, up 43.0%, and net profit of $754 million, up 70.7%. It was the strongest year in the company’s history.
? Pokémon franchise retail sales reached $15.7 billion in 2025, up from $12 billion in 2024, ranking Pokémon the sixth largest global licensor. Trading card demand is the direct driver of the volume printed at Waterleaf Court.
NNN LEASE | EXTENDED THROUGH DECEMBER 2030 | 3.50% ANNUAL INCREASES
? The lease is structured NNN with full expense recovery, providing durable cash flow and ease of management.
? Millennium Print Group has been in occupancy since August 2017, a weighted average of 9.25 years elapsed, and has extended through December 2030. Total term from inception reaches 13.42 years.
? The lease features 3.50% annual increases each January, which would provide a healthy hedge against future inflationary pressures. In-place rent grows from $10.06 PSF at analysis start to $11.54 PSF at expiration, producing passive net operating income growth from $1,229,796 to $1,403,268 by fiscal 2030 with no leasing cost in between.
HIGHLY FUNCTIONAL INDUSTRIAL ASSETS WITH OPTIONALITY
? Flexible Parcel Structure & Future Exit Optionality: the asset provides a unique structural advantage for future ownership: three distinct operational facilities situated on two separately deeded parcels. While currently functioning as a cohesive, multi-building industrial park, this standalone parcelization offers the assets sit on two separately deeded parcels, allowing a future owner to sell or finance components separately, mitigating downside risk and maximizing value-creation strategies across the holding period.
? Recent Capital Investments: Beyond the $685,000 committed by current ownership, the tenant has invested over seven figures across all three assets since 2020—funding major capital projects including paving, HVAC upgrades, and exterior lighting. This substantial tenant equity injection underscores a strong, long-term operational commitment to the location.
HIGH CONNECTIVITY PIEDMONT TRIAD LOCATION
? Waterleaf Court sits in the Airport / West Guilford submarket, within a few miles of the intersection of I-40 and I-85 and of Piedmont Triad International Airport. Manufacturers and distributors choose the Triad for access to more than 50% of the United States population within 650 miles.
? All three buildings are leased to Millennium Print Group, a manufacturer of trading and collectible cards and associated packaging and a wholly owned subsidiary of The Pokémon Company International. The Pokémon Company International agreed to acquire the company in April 2022 after seven years as its printing partner, and Millennium Print Group continues to operate as an autonomous organization with parent investment behind it.
? The Pokémon Company International is the international arm of The Pokémon Company of Tokyo, owned in roughly equal thirds by Nintendo, Game Freak and Creatures. The Pokémon Company reported net sales of $3.34 billion for the fiscal year ended February 28, 2026, up 29.3%, operating profit of $904 million, up 43.0%, and net profit of $754 million, up 70.7%. It was the strongest year in the company’s history.
? Pokémon franchise retail sales reached $15.7 billion in 2025, up from $12 billion in 2024, ranking Pokémon the sixth largest global licensor. Trading card demand is the direct driver of the volume printed at Waterleaf Court.
NNN LEASE | EXTENDED THROUGH DECEMBER 2030 | 3.50% ANNUAL INCREASES
? The lease is structured NNN with full expense recovery, providing durable cash flow and ease of management.
? Millennium Print Group has been in occupancy since August 2017, a weighted average of 9.25 years elapsed, and has extended through December 2030. Total term from inception reaches 13.42 years.
? The lease features 3.50% annual increases each January, which would provide a healthy hedge against future inflationary pressures. In-place rent grows from $10.06 PSF at analysis start to $11.54 PSF at expiration, producing passive net operating income growth from $1,229,796 to $1,403,268 by fiscal 2030 with no leasing cost in between.
HIGHLY FUNCTIONAL INDUSTRIAL ASSETS WITH OPTIONALITY
? Flexible Parcel Structure & Future Exit Optionality: the asset provides a unique structural advantage for future ownership: three distinct operational facilities situated on two separately deeded parcels. While currently functioning as a cohesive, multi-building industrial park, this standalone parcelization offers the assets sit on two separately deeded parcels, allowing a future owner to sell or finance components separately, mitigating downside risk and maximizing value-creation strategies across the holding period.
? Recent Capital Investments: Beyond the $685,000 committed by current ownership, the tenant has invested over seven figures across all three assets since 2020—funding major capital projects including paving, HVAC upgrades, and exterior lighting. This substantial tenant equity injection underscores a strong, long-term operational commitment to the location.
HIGH CONNECTIVITY PIEDMONT TRIAD LOCATION
? Waterleaf Court sits in the Airport / West Guilford submarket, within a few miles of the intersection of I-40 and I-85 and of Piedmont Triad International Airport. Manufacturers and distributors choose the Triad for access to more than 50% of the United States population within 650 miles.
Property Facts
| Sale Type | Investment NNN | Individually For Sale | 0 |
| Status | Active | Total Building Size | 122,249 SF |
| Number of Properties | 3 | Total Land Area | 11.71 AC |
| Sale Type | Investment NNN |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 122,249 SF |
| Total Land Area | 11.71 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 4301 Waterleaf Ct, Greensboro, NC 27410 | Industrial | 63,046 SF | 1991 | - |
| 4320 Waterleaf Ct, Greensboro, NC 27410 | Industrial | 32,760 SF | 1990 | - |
| 4310 Waterleaf Ct, Greensboro, NC 27410 | Industrial | 26,443 SF | 1998 | - |
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