Chipotle | Aspen Dental

Chipotle | Aspen Dental

59 Highlands Square Drive
Hendersonville, NC

Price: $4,485,000
Cap: 5.75%
NOI: $257,809
Building Size: 5,934 SF
Lot Size: 1.82 AC

Investment Highlights

NEW CONSTRUCTION CORPORATE CHIPOTLE & ASPEN DENTAL | WALMART & SAM’S CLUB OUTPARCEL
• The subject property is a 5,934SF Class-A new construction two-tenant retail strip center located in Hendersonville (Asheville MSA), NC
• Located as an outparcel to high-performing Walmart Supercenter & Sam’s Club
• Walmart ranks in the top 80% of locations on a national and state level (Foot Traffic, Placer.ai)
• The adjacent Chick-Fil-A ranks in the top 80% of locations on a national and state level (Foot Traffic, Placer.ai)
• Interstate access and Walmart anchor makes this site a regional draw
• The property is leased to best-in-class tenants Chipotle and Aspen Dental
• All tenants are on long term 10 Year leases with increases and full Corporate Guarantees
• New Class A construction features attractive cultured stone and brick exterior

LONG TERM LEASES WITH INCREASES
• Chipotle - Ten (10) Year Lease with a 7% rent increase in Year 6.
• Chipotle - Four (4) Option periods of Five (5) years each with 10% increases.
• Aspen Dental - Ten (10) Year Lease with 8% rent increase in Year 6.
• Aspen Dental - Three (3) Option periods of Five (5) years each with 8% rental increases.

STRATEGIC RETAIL LOCATION
• Well-located at signalized intersection directly off Interstate 26 (65,500 VPD) along Chimney Rock Road (35,000 VPD) in the heart of the main retail corridor in Hendersonville
• Surrounding National Retailers include Walmart, Sam’s Club, Shoe Show, Staples, Petco, Chick-Fil-A, & More
• Subject Property is located 11 miles from the Asheville Regional Airport
• Center sits at a hard corner signalized intersection with excellent visibility & multiple points of Ingress/Egress

HENDERSONVILLE, NC | ASHEVILLE MSA
• Hendersonville is located 23 miles Southeast of Asheville, NC and is the county seat of Henderson County
• Hendersonville is home to the North Carolina Apple Festival that has an annual attendance of over 250,000
• Asheville is the largest city in Western North Carolina with a population of over 460,000
• Asheville Regional Airport serves 1.6 million passengers a year with flights to all major East Coast Markets.
• Asheville Regional Airport (AVL) contributes nearly $2 billion to the region’s economy and supports 12,520 jobs
• Asheville is home to the Biltmore Estate, a historic house museum, and the property attracts 1.7 million visitors a year

Zach Taylor
Eric Abbott
OFFERING MEMORANDUM

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