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Verizon Wireless facility, Gastonia, NC |
Gastonia, NC– Greysteel, a leading Washington, D.C. based
real estate investment services firm announced that Vice President Peter
Snell, head of the Single Tenant Net Lease Investment Group, has been named
exclusive co-advisor and agent for the freestanding Verizon Wireless located in
Gastonia, North Carolina.
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| Peter Snell |
The offering, which is priced at $3,614,717 (7.25% cap), is
a 5,069 square foot building, built in 2007, fully leased to Verizon Wireless.
The tenant recently waived its right to terminate and has
begun substantial interior renovations, signifying their commitment to the
location.
The 0.99 acre property is shadow anchored by a 198,897
square foot Walmart Supercenter and surrounded by numerous national retailers
including Best Buy, Home Depot, Kmart, Kohl’s, Petsmart, Sam’s Club,
Applebee’s, Chick-fil-A, Chili’s and McDonald’s.
Just 20 miles west of Charlotte and midway between Atlanta
and North Carolina’s Research Triangle, the property is located in Gastonia,
the 13th largest city in North Carolina.
The largest of the Gaston County’s 15 municipalities,
Gastonia is also the second largest city in the booming Charlotte-Gastonia-Rock
Hill Metropolitan Area and has experienced steady growth the last decade with
an 8% population increase.
“Verizon Wireless has demonstrated, through its financial
investment to upgrade the store’s appearance and waiving of its option to
terminate the lease, a strong desire to remain in business at this location ,”
said Greysteel’s Snell.
“Given the scarcity of investment grade credit backed
assets on the market, the limited pipeline of new development and strong
investor demand for passive single tenant investments, we expect to receive
multiple offers early in our marketing campaign,” Snell said.
For a complete copy of the company’s news release, please
contact:
Yassi Farzaneh
202-280-2714
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