Starbucks | First Watch Anchored Class A Shopping Center - Apex, NC

Lease Facts

• Lease Types: NNN Leases Offering True Passive Ownership
• 100% National & Regional Tenants
• Long-term Leases
• WALT (Weighted Average Lease Term): 8.04 Years
• Healthy Rent Increases for All Tenants
• All Original Tenants

Center Specifics

• True Trophy Asset
• Class A Construction
• Starbucks & First Watch – Strategically Located “On the Way to Work” at Entrance Ramp of US Highway 64 which is a Main Artery into Raleigh & Research Triangle Park
• Contemporary Design / Ideal Linear Building shape
• Minimal Setback from W. Williams St. with Exceptional Frontage
• 142 Parking Spaces
• Winning Tenant Line Up > Majority of Tenants are Service & Destination Based Offering E-commerce Proof Income Streams
• Impeccably Maintained Asset
• 15 Year Transferrable Roof Warranty
• All LED Parking Lot Lights
• Class A+ Landscaping Quality
• Highest Grade Underground Gutter Systems
• Hotel Site Directly Behind Property Currently Under Development Offering a Captive Audience and Built-in Customer Base

Location Drivers

• In Absolute Epicenter of Retail Corridor
• Directly Across from Top Rated National Retailers including Lowe’s, Target, Chick-fil-A, Chase Bank, Panera Bread, Panda Express, Pet Smart, Chili’s, Wells Fargo and Dozens of Additional Leading National Retailers
• Adjacent to Signalized Intersection
• Connected to 125K+ Sq. Ft. Power Center Beaver Creek Commons
  • 100% Leased
  • 7M Annual Visitors to the Shopping Center
  • Ranked in 96^th Percentile for Most Visited Shopping Centers in the U.S.
• 28,500 ADT on W. Williams St.
• Adjacent to US Highway 64 with an Additional 38,000 ADT
• Local Drivers
  • ¼ mile – Peak Charter Academy – 758 Students > Grade K-8
  • 5 Miles – Salem Middle School – 1109 Students & Faculty
  • 2 miles – Apex High School – 2,535 Students & Faculty

Area Drivers

• Apex is the Fastest Growing Suburb in The United States
• One of the Most Desirable & Coveted Locations in the Entire U.S. for Commercial Investments Real Estate quality
• Ideally Located Just 6 Miles South of the Famed “Research Triangle Park”
• Dubbed “The Silicon Valley of the East”
  • Raleigh: The perfect Storm of Tech Companies, Universities and Top of the Line Infrastructure
    • Apple investing $1 Billion into the construction of a new campus
    • Three tier 1 research universities; Duke University, North Carolina State University & North Carolina Chapel Hill
    • 300+ global companies call Triangle Research Park home that employ roughly 50,000 salaried employees
    • Attracts & fosters high-tech biotechnolo­gy-based firms
  • Town Motto is “The Peak of Good Living”
  • Over 9,000 New Residences Under Construction in the Immediate Trade Area
  • Population Density: 51,213 – 3 miles & 162,325 – 5 miles
  • Incredibly Affluent Area with Avg. HH incomes of $150,381 – 3 miles & $157,227 – 5 miles
  • Ideally Located in the Path of Progress, Development & Population migration
    • The metro is projected to add 228,000 people over the next five years resulting in 92,000 additional households.
    • A median home price of $450,500 allows 64 percent of households to own their homes, on par with the national level.
  • Consumer spending is being stimulated by the recuperation and expansion of added 70,000 new jobs since the onset of the health crisis, compared to just 40,000 during the equivalent two-year span prior to February 2020.
  • The high-wage tech, finance and medical sectors have accounted for most of this recent hiring, allowing Raleigh to lay claim to the Southeast’s largest median household income
  • Well-earning professionals, paired with continued household formation and net in-migration, will enable the market to register the fastest retail sales growth in the nation this year
    • These factors stoke retailer demand for space, with a lull in new supply steering expanding vendors to existing properties
    • The vacancy rate — at 3.1 percent — remains 190 basis points below the long-term average

Location

• Apex is located in the Raleigh-Dunham-Chapel Hill MSA
• Raleigh, home to the state capital, has over 508,000 citizens, which leads the region
• Numerous world-renowned colleges and universities are located in the met­ro
• MAJOR AREA EMPLOYERS
• Duke University Health System
• IBM Corp.
• WakeMed Health and Hospitals
• Cisco Systems, Inc.
• UNC REX Healthcare
• SAS Institute, Inc.
• Fidelity Investments
• Lenovo
• Pfizer
• Target Corp.
• Affordable Cost-Of-Living
  • A metro median home price of roughly $450,000 is lower than many other East Coast communities, and the annual median household income is well above that of the nation