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JLL is pleased to exclusively offer the opportunity to acquire a single-tenant property, corporately-guaranteed by Caliber Collision in Denver, North Carolina, an affluent suburb of Lake Norman in the Charlotte MSA. Caliber Collision commenced its lease in August 2020 and now has more than 14 years of remaining lease term. This triple-net lease features 10% rental increases every five years with two (2), five (5) year options to renew starting in 2035.
Caliber Collision is situated along NC Hwy-16 Business, one of the area’s main thoroughfares connecting downtown Denver to the immediate area’s largest commercial corridor. NC Hwy-16 Business boast over 18,000 VPD and is the main road which serves the lake-front neighborhoods directly east of the property, also running parallel to NC Hwy-16 which travels from Jefferson, North Carolina down to Uptown Charlotte. This expansive highway is one of Lincoln County’s most traveled highway systems, supporting more than 32,500 VPD. Just three miles south of the Property is Denver’s main commercial corridor and retail cluster, featuring renowned retailers such Walmart Supercenter, Lowe’s Home Improvement, Aldi, Harris Teeter, and Food Lion. This economic nucleus is located at the intersection of Hwy-16 and Hwy-73. Hwy-73 directly connects Denver to the east side of Lake Norman and direct access I-77, Charlotte’s most-trafficked interstate system just 11 miles away.
- Brand new corporately-guaranteed NNN lease (no Landlord responsibilities) with over 14.5 years of term and two (2), five (5) years options to renew
- Inflation hedge with 10% rent increases every five years, inclusive of both option periods
- Caliber Collision is the largest auto repair shop in the United States with over 1,150 locations in 32 states with $4B+ in revenue
- Situated on Hwy-16 Business (18,000 VPD), one of Lincoln Country's and Denver's main throughfares connecting downtown Denver in the north to the city's commercial corridor to the south
- Centrally located to affluent lakefront and golf communities in Lincoln county with an average household income of nearly $100,000 within a one-mile radius. The population within a 1-3-5 mile radius from the Property is projected to grow more than 12% between 2020 and 2025
- Located half a mile away from Lake Norman - the largest man made lake in North Carolina and second largest lake home market in the U.S. behind Lake Michigan
- Charlotte, NC is one of the leading metropolitan areas for economic growth. PWC and ULI ranked Charlotte the “No. 1 Real Estate Markets to Watch” and YELP voted Charlotte the “No. 1 City for Economic Opportunity.”