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10101 David Taylor DrCharlotte, NC 28262
Mecklenburg County (AAA) Facility
Asset ClassOffice
overview of deal

Overview

Opportunity to acquire a ±144,000 SF office property fully leased to Mecklenburg County (AAA credit). With an influx of new County employees being relocated into the subject property, there have been recent investments and upgrades to the infrastructure/site to help support growing tenant needs. The building accommodates 24/7 operations that require specific security standards to be met, such as metal detectors at both the front and back entrances of the building. Due to the county originally expanding into the remainder of the building, there are two leases with a WALT of 5 years.

Investment Highlights

  • Leased directly to Mecklenburg County (AAA credit rating)
  • 3% annual escalations
  • No termination rights
  • Base year stop on expenses
  • 24/7 operations on the second floor
  • 50 county vehicles on site for employees to respond to emergency calls/incidents
  • $3.5-4M of new furniture in the space
  • 800 parking spots- 5.56/1,000
10101 David Taylor DrCharlotte, NC 28262
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