Monday, May 13, 2013

Greysteel Announces Exclusive Free-standing Verizon Wireless Offering in Gastonia, NC




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. 

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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