Surf City, NC - Valvoline

Description:

• The tenant just signed a 15-year lease with 4 (5-year) options to extend
• The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation
• The lease is guaranteed by QAS III, LLC a 204+ unit franchisee
• The newly-constructed building features a state-of-the-art design with high-quality materials

• The asset is located at the signalized, hard corner intersection of NC-50 which averages 22,000 VPD
• The subject property is situated right across from a Walmart Neighborhood Market, Food Lion and Publix
• The site is located in a dense retail corridor, with numerous nearby national/credit tenants including Publix, Food Lion, McDonald’s, Dunkin’, CVS, Petco, Jersey Mike’s and many more
• Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site

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Listing ID: a28TP000001p4IjYAI