STRONG LEASE FUNDAMENTALS
- 10 Year Abs. NNN Lease with a rent escalation in year 6 and 2 extension periods
- 10% rent increases every 5 years and in option periods
HIGH GROWTH SUBMARKET IN RALEIGH, NC MSA
- Garner has a population growth rate of 3.8% yearly and has grown by 17% since its last census in 2020
- Raleigh forecasts a 44% job growth over the next 10 years
- Raleigh ranked #3 in best places to live for 2023-2024 (U.S. News)
POSITIONED IN A MAJOR COMMERCIAL NODE
- Located inside a strong retail node with over 900k SF of retail space in a one mile radius boasting a 0% vacancy rate
- Nearby major retailers include: Target, Burlington, Pet Smart, T.J. Maxx
- Total of ~2.5 MSF of commercial real estate in a one mile radius with an overall vacancy rate of 1.5%
EASILY ACCESSIBLE
- Full access into the site from Timber Drive East
- Approximately 1.5 miles to US - 70 & I-40 interchange
VALUABLE LOCATION
- Over 1,500 multifamily units in a one mile radius
- Cross access to Adeline White Oak Apartments ~336 units
- Across the street from Abberly Place Apartments ~600 units
STRONG TENANT THAT FILLS A MARKET VOID
- Fit4Life has 18 locations throughout the Triangle and Eastern North Carolina
- Next closest fitness concept is over 2.5 miles away