This property featured a recently renovated Dunkin’ location with 14+ years remaining. The property is located in the busy Raleigh/Durham submarket, which is experiencing major growth and redevelopment. The property itself was located in close proximity to NC-42 Highway and I-40, both of which are major corridors used for commuting to nearby employment areas.
The property is also located on a major retail corridor near a number of credit tenants, such as Walmart and Lowe’s, and CVS as well as other credit fast food tenants.
OneV Capital plans to hold this property long term. The property had a 14-year NNN lease in place at closing. The lease features no management or maintenance responsibilities, which is an ideal form of ownership for an asset of this size. Further, the team expects future developments to occur in the surrounding area of the property which may help increase long-term property value.