AT&T AND DENNY’S INVESTMENTS | 8031 CONCORD MILLS BLVD., NORTH CAROLINA 28027

PROPERTY INFORMATION:

The property is an outparcel of Concord Mills Shopping Center which is one of North Carolina’s largest tourist attractions with over 200 stores, restaurants, entertainment, 26,000SF indoor aquarium. Near the Charlotte Motor Speedway and 10+ miles from uptown Charlotte. The mall is reported to have over 20 million visitors per year.

INVESTMENT HIGHLIGHTS

  • Cap rate: 7.25%
  • Annual Rent: $417,270
  • AT&T Rent: $193,270 Annually – Net Lease
  • AT&T Lease current thru 2024 with 5 year extension to June 30, 2029
  • Net Lease with a cap of $8.53 per sq. ft. of expenses reimbursement per year
  • Denny’s Lease: $224,000 Annually – NNN Lease
  • Denny’s Lease current thru 2029 with (2) five year extensions to 2039
  • Rental Escalations: Yes
  • S&P Rating: BBB for AT&T