Hillsborough, NC - Aldi

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased, ALDI investment property located in Hillsborough, North Carolina. The tenant, ALDI recently signed a brand new 20 year lease with 6 (5-year) options to extend, demonstrating their commitment to the site. The lease features 8% rental increases every 5 years beginning year 11 and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor.

The ALDI is located directly off the Interstate 85 exit at NC-86 with a combined 81,900 VPD. NC-86 is the major retail thoroughfare serving the city of Hillsborough and eastern Orange County, connecting Interstate 85 and Interstate 40 to the city’s historic downtown. The ALDI is adjacent to a Walmart Supercenter and The Home Depot anchored center that also features national/credit tenants including Goodwill, Verizon, Dollar Tree, Advance Auto Parts and Subway, Papa John’s, Dunkin’ and Hwy 55 pads. The asset is directly across from a Sheetz-anchored node featuring a Chrysler-Dodge-Jeep-Ram dealership, STIHL and State Farm. In addition, ALDI is located within the broader Hillsborough retail corridor, which includes Churton Grove Center, a Food Lion grocery anchored center, and North Hills Shopping Center, anchored by Dollar General and Habitat for Humanity ReStore. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Tractor Supply, Food Lion, AutoZone, NAPA Auto Parts, Ford, Planet Fitness, Builders FirstSource, Walgreens and Burger King, further increasing consumer traffic to the site. The subject property is in close proximity to UNC Hospitals Hillsborough Campus (163 Beds), the primary medical facility serving Orange County, as well as the Durham Tech Community College Orange County Campus and Cedar Ridge High School (1,148 students). The 5-mile trade area is supported by a population of over 27,800 with an average household income of over $158,000.

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