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Concord Shops, Concord, NC

Concord Shops

NC, United States

Price $3,378,815
Cap Rate
NOI
Lease Term Various
Lease Type
Rental Increases Various
Year Built 2004
Building Size 8,440 sq. ft.
Lot Size 0.79 Acres (34,413 SF)
Status Sold
Lead Broker Information Michael T. Yuras, CCIM
Executive Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Senior Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

100% LEASED SHOPPING CENTER WITH SCHEDULED RENT
INCREASES
» 100% Leased to strong national and regional tenants
» Scheduled rent increases providing a hedge against inflation
» Multi-tenant shopping center offering an investor diversification

EXCELLENT LOCATION ALONG CONCORD PARKWAY N IN THE
HEART OF CONCORD’S RETAIL CORRIDOR
» Excellent access and visibility along Concord Parkway N to over 37,000
vehicles per day
» Across from Carolina Mall, which features 550,000 square feet of fully-enclosed
retail space
» Large retail trade area with a massive concentration of national tenants
nearby including Sears, JCPenney, Belk, Staples, Home Depot, OfficeMax,
Walgreens, and many others
» Easy access off of Interstate 85 with average traffic counts of 80,000
vehicles per day

LOCATED ACROSS FROM REGIONAL MEDICAL CENTER
» Across from Carolinas HealthCare System NorthEast, a 457 bed, acutecare
teaching hospital
» Approximately 300 physicians are members of the medical staff, and the
medical center employs more than 4,200 individuals

Click Here to Download Offering Memorandum


Property Description

SOLD

The subject property is strategically situated within a dense retail corridor near the northwest corner of Concord Parkway N and Country Club Drive NE approximately three miles north of downtown Concord. Convenient access to Interstate 85, which features an annual average daily traffic count of 80,000 vehicles, is less than half a mile north. The property has excellent visibility, with frontage along the heavily trafficked Concord Parkway N arterial, which has an annual average daily traffic count of 37,000 vehicles in front of the site. The site is surrounded by national retailers such as Walgreen, McDonald’s, and Popeye’s Louisiana Kitchen, with Walmart, Lowe’s, Home Depot, and the 22,000-student Rowan-Cabarrus Community College less than a mile away. Directly across from the subject property is Carolina Mall, a 550,000 square foot enclosed shopping mall occupied by 50 national and local retailers and restaurants. The mall’s anchors include J.C. Penney, Sears, Belk, and Staples. Carolina Mall Cinema is outparcel to the mall. Across from the theater is Sportscenter, the region’s largest and premier fitness sports and wellness facility. Immediately south of Carolinas Mall is Carolinas HealthCare System NorthEast, a 457 bed, acute-care teaching hospital. Carolinas HealthCare System is comprised of an extensive inpatient and outpatient network that services the residents of multiple counties. Approximately 300 physicians are members of the medical staff, and the medical center employs more than 4,200 individuals.

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