Description

Jones Lang LaSalle Americas, Inc. ("JLL") is pleased to offer the opportunity to acquire a two-tenant strip center at 100 Village Center Drive in Chapel Hill, North Carolina ("Property" or "Asset"). The 6,192 SF Property operates on a NN lease structure with a WALT of ±4.4 years and features institutional tenancy from UNC Health Care System and Starbucks Corporation, with additional rental income from a Tesla Supercharger license agreement. Notably, due to Chapel Hill’s restrictive permitting, this is the only Starbucks drive-thru location in the town of Chapel Hill proper.

NC Broker of Record: Pete Pitroff: License #: 163984

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Attributes

Asking price

₱303,431,000

Cap rate

Building area net

575 sm

WAULT

4.4 years

Occupancy

100%

UNC Health & Starbucks + Tesla Supercharger - Chapel Hill, NC (2 Properties)

Media

Investment highlights

Two-tenant strip center on net leases with ±4.4 years WALT
UNC Health Care System – Elite Aa2 rated health system generating $7.6B revenue across 250+ care locations
Only Starbucks drive-thru in the town of Chapel Hill proper due to restrictive permitting
4 miles north of UNC Chapel Hill with 34,000+ students
Within Carraway Village, the largest greenfield development in Chapel Hill in the past decade
Located off I-40 exit 266, one of the busiest interchanges with 77,000+ VPD, with a new I-40 slip ramp currently under construction
Dense residential development with accessibility to 1,200+ residents within a 5-minute walk