SOLD – Lowes Foods Fuel Center

THE OPPORTUNITY

• Ground Lease providing landlord with low-risk lease structure and zero landlord responsibilities
• Structure built in 2010, outparcel to recently renewed Lowe’s Foods grocer
• Recent option exercise following 12-year initial lease term, showing commitment to location
• Inflation protected with 10% rental increases in each of final three 5-year options
• Situated across the street from the primary hospital system (Atrium Health) in the area giving the location a stable flow of daytime traffic
• Lowe’s Fuel is the first gas station off Interstate 40 which carries traffic counts of 46,000 VPD
• Extreme loyalty to Lowes Foods throughout the Carolinas

THE HIGHLIGHTS

• Bermuda Run is one of the wealthiest submarkets of Winston Salem
• Brand new Chick fil A under development on adjoining parcel which will drive further traffic to the fuel center
• High occupancy levels in the immediate area; submarket vacancy rate of only 3.9%
• High-income ($114k 3-mile HHI) and growing population (7% year-over-year)
• 35% of homes in the area built since 2000
• Recession-protected workforce that is heavily weighted towards health services
• Located within Winston-Salem market
• One of two gas stations at this exit off Interstate 40
• Excellent visibility from Highway 801 (16,000 VPD)
• Dense neighborhoods to the North and South of the property