Asking Price
Area Size
NOI Net Operating Income
Cap Rate

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key facts

Year Built 1997
Building Area Net
Occupancy 100.0 %

Property description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale the fee-simple interest in a single-tenant Home Depot (the “Property”) located in Durham, NC. The built-to-suit Home Depot opened for business in 1997 and Home Depot, USA, Inc. (the “Tenant”) signed a long-term lease with 25 years in the primary term. The Tenant just executed a 10-year extension to 2033, with six separate 5-year extension options remaining. The absolute net ground lease features a truly passive income structure, with zero landlord responsibilities and scheduled rent increases. Home Depot provides rare investment grade (S&P ‘A’), pandemic and e-commerce resistant tenancy, boasting 27% revenue growth over the past two years. The Property presents a generational investment opportunity to acquire a rare, A-credit ground lease in the fast-growing Durham market.


Alex Geanakos and Alex Sharrin are Limited Nonresident Commercial Real Estate Brokers 

Investment highlights

  • Corporate ground lease structure with zero landlord responsibilities
  • 11 years remaining with six, 5-year renewal options and scheduled rent increases
  • Investment-grade (S&P 'A'), pandemic-resistant tenancy from Home Depot
  • Rapid growth Durham market (second-fastest growing large city in the US)
  • Home Depot achieved over $150 Billion in FY2021 revenue (14.42% YoY growth)
  • Located 1.5 miles from downtown Durham and Duke University


Last Updated Date: 08 Apr 2022

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Last Updated Date: 08 Apr 2022

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The value of trust beneficiary rights fluctuates due to fluctuations in the price of real estate, and there is a risk of falling beyond the investment principal. Real estate prices are fluctuated by changes in the population of the area in which they are located and the number of newly supplied properties, fluctuations in interest rates and exchange rates, changes of tax system, loss/damage due to natural disasters such as earthquakes, deterioration over time, and the discovery of hidden defects such as soil pollution.

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