RealtyLink Development

Verizon Wireless (Greenville MSA)

4867 Calhoun Memorial Hwy
Easley, SC 29640

PROPERTY SOLD

Property: Investment Sales

Square Footage: +/- 5,000

Acreage: +/- 1.461

Price: $3,840,000

Cap Rate: 6.25%

Description:

  • Newly constructed and BIGGER relocation store about ½ mile from the previous location
  • 10 year firm lease (no kick-out) commenced August 2016 with two 5 year renewal options
  • 10% rent bumps every 5 years including both options periods
  • Lease guaranteed by Cellco Partnership, a wholly owned subsidiary of Verizon Communications (NYSE: VZ)
  • Verizon is the largest wireless telecommunications provider in the U.S. with over 143 million subscribers (as of July 2016)
  • Verizon has more than 2,330 locations, revenues in excess of $126 billion and net income in excess of $13 billion
  • Located directly across from Easley Town Center, a  +/- 650,000 SF power center anchored by Walmart, Sam’s Club, Kohl’s, Academy, PetSmart, Marshalls and more
  • Positioned on Calhoun Memorial Hwy, the market’s primary commercial and traffic corridor with over 36,000 cars per day, and just 8 miles off I-85 exit 40
  • Easley is 12 miles west of nationally recognized downtown Greenville and part of a Top 40 MSA with a population around 1.5 million
  • Over 53,000 residents with average household income of $63,000 in a 5 mile radius