Monroe, NC - Caribou Coffee

Description:

• The tenant just signed a brand new 12-year lease with 3 (5-year) options to extend, demonstrating their commitment to the site
• The lease features 10% increases every 5 years during the initial term of the lease and options thereafter, growing NOI and hedging against inflation
• Caribou Coffee has 335 company-owned, 140 non-traditional, and 361 franchise coffeehouses in 11 countries as of Dec. 31, 2024, they are focused on smart growth, while staying true to their purpose

• The asset is ideally located in a dense retail corridor, with numerous nearby national/credit tenants including Food Lion, Aldi, Family Dollar, Office Depot, Harbor Freight, Walgreens, Truist, and many more
• Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover exposure to the site
• The site is in close proximity to Monroe High School (1,041 students), East Elementary School (385 students), and Atrium Health Union (182 beds), further increasing consumer traffic to the site