RealtyLink Development

The Landing (Asheville MSA)

325-341 Airport Rd
Arden, NC 28704

Property: Investment Sales

Square Footage: +/- 76,300

Acreage: +/- 10.559

Price: $21,063,000

Cap Rate: 6.50%

Anchor Tenants: Dick's Sporting Goods, Kirkland's

Description:

  • Newer construction Class A retail center with high exposure and convenient access operating at over 95% occupancy
  • Anchored by Dick’s Sporting Goods (NYSE: DKS) with a complimentary mix of local/regional/national tenants
  • Dick’s is the largest U.S. based sporting goods retailer with +/- 676 stores in 47 states and net sales of $7.9 billion
  • Positioned on the market’s primary commercial and traffic corridor about 1 mile off I-26 exit 40
  • Located 15 miles south of downtown Asheville next to the Asheville Regional Airport, the fourth largest airport in NC
  • The Airport experienced their third consecutive year of record passengers with 826,648 in 2016 (up 5% from 2015)
  • Current population over 53,700 with projected growth of 8.7% by 2021 within a 5 mile radius
  • Average household income over $74,000 with projected growth of 10% by 2021 within a 5 mile radius
  • Traffic counts of 72,000 AADT on I-26 and 34,000 AADT on Airport Road near the property (2015 data)