315 Greenville Blvd SE
Greenville, NC 27858

Lumber Liquidators just extended their lease seven (7) years, bringing the total term remaining to ten (10) years. This is rare as Lumber Liquidators typically only signs 5-7 year leases per their 2017 Annual Report and demonstrates their commitment to this location. The FastMed Urgent Care lease also has nine (9.8) years remaining. Both leases provide for two (2), five (5) year options. The NOI includes additional cash flow from the US Cellular lease, which has eight (8+) years remaining, plus three (3), five (5) year options. The Lumber Liquidator lease provides for 10% rental increases at each option, and the FastMed lease provides for 2% annual increases. The FastMed Urgent Care lease is guaranteed by Urgent Cares of America Holdings, LLC, and the Lumber Liquidators lease is guaranteed by Lumber Liquidator, Inc. Both lease structures are double net (NN), with minimal landlord responsibilities. There are 115,253 residents located in the five (5) mile demographic ring. The average household income in the five (5) mile demographic ring is $61,650. The subject property has strong frontage on Greenville Blvd SW & Red Banks Rd, which report combined traffic counts of 47,800 cars per day. The subject property is surrounded by significant big box retail, with nearby stores including Walmart Supercenter, Target, Stein Mart, Walgreens, Bojangles, Barnes & Noble and Mattress Firm, among others. The City of Greenville is a commercial, educational, cultural and medical hub for Eastern North Carolina. The university enrolls 29,000 students annually, and is located just 1.5 miles (3 minutes) from the subject property. Greenville, NC supports a thriving retail economy and is currently home to 6.59 million square feet of retail space and 60 major retail centers. The largest center in the city is the 486,000-square foot Greenville Mall, which is located just 0.6 miles (2 minutes) from the subject property.