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3703 Lawndale DrGreensboro, NC 27455
Walgreens | Greensboro, NC |
Asset ClassRetail
Cap Rate6%
6% Cap - Recently Extended lease for Performing location
overview of deal

Overview

Atlantic Capital Partners has been exclusively engaged to solicit offers for the sale of Walgreens in Greensboro, NC. The site is positioned in a strong retail node centrally located around three universities with over 36k students combined. The opportunity provides a strong investment with zero landlord responsibilities backed by a Corporate lease from a strong credit tenant Walgreen Co.

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Investment Highlights

Attractive Lease Fundamentals

  • 5% Rental Increases every 5 Years
  • twelve (12) five (5) year extensions
  • Abs. NNN Lease, Zero Landlord Responsibilities
  • Corporate Lease - Walgreens Co.

Densely Populated Area in High Growth Greensboro MSA

  • 107K people live in a 3-mile radius with high discretionary income (AHHI ~$107K)
  • Greensboro is the third largest city in North Carolina with 2% annual population growth rate

Located in Strong Retail Node

  • More than 1.2MSF of retail space located in a 1-mile radius
  • Retailers in the area have an overall vacancy rate of 1.8%
  • Nearby major retailers include: Walmart Supercenter, Target, Trader Joe’s, Aldi and a top performing Lowes Home Improvement (top 89th percentile - Placer.ai)

Nearby Universities & Colleges

  • 4.5 miles from University of North Carolina Greensboro
  • 4.2 miles from Greensboro College | 5.5 miles to NCA&T
  • Over 36k total students and 5,000 total employees from all three universities

Well Positioned Oversized Parcel

  • Subject Site is positioned on two lighted intersections with full access on two roads (Lawndale Dr - 24K VPD & Martinsville Rd)
  • Fronting three roads (Lawndale Dr, Martinsville Rd, and Pisgah Church Rd - 19K VPD)
  • Over 1.70 acres providing future redevelopment opportunity

New Development in Greensboro, NC

  • Toyota is building a $13.9 Billion dollar battery plant in Greensboro bringing in over 5,000 jobs
  • Boom Supersonic is building a super factory in Greensboro which is a $500 million dollar project bringing in over 1,750 Jobs
  • Honda Aircraft Company is expanding operations and investing $55.7 million dollars into the area adding 280 high skilled jobs
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3703 Lawndale DrGreensboro, NC 27455

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Listing provided by Revere CRE