White Oak Crossing (Raleigh MSA)

1210-1230 Timber Drive East
Garner, NC 27529

PROPERTY SOLD

Property: Investment Sales

Square Footage: +/- 87,446

Price: $12,750,000

Cap Rate: 6.65%

Anchor Tenants: Burlington, Staples, Dollar Tree

Description:

  • 2014 class A construction in a highly developed and desired trade area of The Research Triangle region about 8 miles southeast of downtown Raleigh
  • 100% occupied with 3 publicly traded national credit tenants on long term NNN corporate leases (Burlington stock up 61% in 2015)
  • Part of White Oak Crossing, an 850,000 SF 97% occupied regional shopping destination anchored by Target, BJ’s Wholesale Club, Regal Cinemas, Kohl’s, Dick’s, Best Buy, TJ Maxx, Ross and Michaels
  • Strong demographic area with 77,131 residents with an average household income of $65,548 in a 5 mile radius
  • Ideal location adjacent to Target and at the intersection of I-40 and US-70, providing convenient regional access
  • The Research Triangle Regional Partnership (RTRP) leads development of the regional economic-development strategy, called The Shape of Things To Come. It is a five-year plan to promote economic and job growth in The Research Triangle Region