1501 W O. Ezell Blvd, Spartanburg, SC 29301

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Rental Increases in all leases: Below Market Rent - 9.91% Cap Rate at Market Rent | Lease Comps in OM

Faris Lee Investments is pleased to bring to market an opportunity to acquire Dorman Crossroads, a fee simple interest in an extremely well located, 3 tenant, 100% leased, outparcel pad building to Dorman Centre, a 400,000 sq. ft. power center in Spartanburg SC anchored Super Walmart and Home Depot. The offering is occupied by Red Wing Shoes (400+ locations), Prisma Health (338+ locations/largest healthcare provider in SC) and Vitamin Shoppe (700+ locations). With each tenant at below market rent, taking the 3 tenants to market rent would potentially achieve a 9.91% Cap Rate. This pride of ownership, ease of management investment is ideal for the passive investor in search of yield significantly higher than what can be found in a single tenant offering with realistic longer term upside potential.

Spartanburg is a jewel of the southeast and has seen tremendous growth over the past 15 years due to domestic migration and affordable living. With annual population growth of 2.7%, it continues to rank as a Top 10 Growth Market in the U.S. Dorman Crossroads is located within the #1 retail shopping district in Spartanburg. Other area retailers include Costco, Target, Sam’s Club and the 1.2 million sq. ft. Westgate Mall. Spartanburg boasts a thriving economy with major employers including BMW, GE, Michelin, and Milliken. The continued population growth and thriving economy create an ideal environment in which the tenants at Dorman Crossroads can have long term success.