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Hickory Shops, Hickory, NC

Hickory Shops

NC, United States

Price $5,092,000
Cap Rate
NOI
Lease Term 10 Years
Lease Type
Rental Increases 10% every five years
Year Built 2016
Building Size 10,801 sq. ft.
Lot Size 1.2 Acres (52,272 sq. ft.)
Status Sold
Lead Broker Information Ryan Forsyth
Senior Managing Director
415.228.9114
ryan.forsyth@cushwake.com
CA RE License #01716551

Vince Aicale
Senior Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Investment Highlights

BRAND NEW LONG-TERM NET LEASES WITH 10-YEAR
INITIAL TERM
» 100% leased to strong national and regional tenants
» Rare 10-year leases on initial term for all tenants with 10% rental increases every
5 years
» All NNN leases with Tenants responsible for taxes, insurance, maintenance, and
common area

EXCELLENT LOCATION ALONG US HIGHWAY 70 IN THE HEART
OF HICKORY’S RETAIL CORRIDOR
» Excellent access and visibility along US Highway 70 to over 20,000 vehicles per
day
» Outparcel to Valley Hills Mall: only mall within 40 miles drawing from a trade area
over 400,000 people
» Hickory’s primary retail trade area with a massive concentration of national
tenants nearby, including Academy Sports, Wal-Mart, Lowes, Sam’s Club, Best Buy,
Dicks Sporting Goods, and Target, amongst many others
» Easy access to Interstate 40, with average traffic counts of 63,000 vehicles per day

NEW 2016 CONSTRUCTION BUILT-OUT TO TENANTS
SPECIFICIATIONS
» Brand high-quality construction with no deferred maintenance, limiting an
investor’s near-term capital requirements
» New transferable warranties for roof and HVAC

Click Here to Download Offering Memorandum


Property Description

SOLD

The Hickory Shops are located along U.S. Highway 70 Southeast at one of the primary entrances to The Valley Hills Mall. Valley Hills Mall is a two-story, regional shopping mall that is owned and managed by Rouse Properties, one of the largest mall owners in the United States. It contains many notable national tenants and is anchored by Belk, Dillard’s, JCPenney, and Sears. The mall is 862,703 square feet and is the largest retail destination in the area surrounding Hickory.

The Hickory Shops are located two blocks from the Interstate 40/McDonald Parkway Southeast off-ramp, which has traffic counts of 63,000 AADT on Interstate 40 and 27,000 AADT on McDonald Parkway Southeast. Other notable national tenants surrounding the property include Home Depot, Lowe’s, Walmart, Sam’s Club, Ross, Academy Sports, and Chipotle, among many others.

Contact Us About This Property

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