SOLD – Aldi

THE ASSET

• Newly constructed, single-tenant ALDI Grocery store in Duncan, SC
• Asset is secured by a NNN Ground Lease corporately backed by ALDI Inc.
• 20-year base term lease with six 5-year options, potentially extending the lease through 2075
• 10% Rent Increase in Year 11 and 8% Increases in each Renewal option
• 20,664 SF Grocery store on a 2.483 acre parcel
• ALDI, Inc. is a global discount supermarket chain
• ALDI operates over 2,400 stores in the U.S. and over 6,600 stores in 10+ countries
• Tabbed as one of the fastest growing-retailers in the country, ALDI intends open an additional 800 stores in the U.S. by 2028
• New ALDI stores are opening through new construction, as well as conversions from old Winn-Dixie and Harvey’s Supermarket locations

LOCATION HIGHLIGHTS

• High Growth Submarket Location
• Duncan, a submarket of Greenville and Spartanburg, SC has experienced a 15% growth in population since 2020 and projects to add another 33% by 2030
• Duncan is home to AFL’s new fiber optic cable operations center, which is said to be a $155 million investment that will create at least 150 new jobs
• Centrally Located
• 164’ Frontage on E. Main Street, which yields over 23,000 vehicles per day
• Situated just 10 miles (18 min.) from Greenville-Spartanburg International Airport
• Close proximity to I-85, which connects Atlanta, Greenville, and Charlotte