Walkertown Commons - Walkertown, NC

THE OPPORTUNITY

Lowes Foods anchored center in the Piedmont Triad area
Leading grocer in the submarket
100% occupied, with strong lease-up history
Unrivaled location at the lighted intersection of Reidsville Rd and Old Hollow Rd, which features a combined 24,000 VPD
Lowes Foods has been in the center since it was built in 2004, and their headquarters is located within the Winston-Salem market
Barriers to entry are high with every corner of the intersection having already been developed
Well maintained Shopping Center in great physical condition

THE DEAL POINTS

THE HIGHLIGHTS

Ability to immediately obtain upside through subdivision and sale of 6,000 SF multi-tenant building
E-Commerce resistant tenant mix with 100% of GLA made up of non-soft goods retail
73% of GLA is made up of National and Regional tenants
The leases are staggered and expire incrementally through 2025
The center has four access points, two from Reidsville Rd and two from Old Hollow Rd
Over the past ten years, population within a three and five mile radius grew 7% and 5% respectively
Average rents are 18% below market rents
Center has multiple outparcels, including Advance Auto, Wendy’s, Sheetz, Monsoon Car Wash, Biscuitville, and Bojangles’ (owned by others)
80 unit multifamily development located behind the shopping center where residents have to drive through shopping center to access their residence. There is a 198 unit multifamily development across the street and new apartments going up on Reidsville Rd

DEALS