University Place Shops
University Place Shops CLT | 8+ YRS WALT | 6.40% CAP | Great for 1031 Exchange + Bonus Depreciation
Marketing description
Trinity Partners, on behalf of the Owner, is pleased to serve as the exclusive advisor for the sale of University Place Shops in Charlotte, NC, a ±4,998 square foot freestanding retail property leased to Noodles & Company and Mezeh on a triple-net basis with an average of over eight years of remaining lease term.
Outstanding Charlotte location in a robust, highly dynamic area of northeast Mecklenburg County known as University City, adjacent the University of North Carolina at Charlotte campus, University Research Park, and Carolinas Healthcare System University. In addition, recent nearby retail, hospitality and light rail transit-related developments have further enhanced the property’s superior appeal and potential for consumer demand.
Investment highlights
TURNKEY INVESTMENT: Fully leased to national and regional brands, fee simple ownership, long-term leases with operating expense recovery and built-in rent growth.
UNIVERSITY AND STADIUM EXPANSION: UNC Charlotte enrolled over 32,000 students in Fall 2025, the second consecutive year of record breaking growth. The University’s football stadium attendance has increased 35% over the past five years and 2025 marked the ground breaking of a $70 million expansion.
STRONG, GROWING CONSUMER DEMAND: Foot traffic counts near the property are high ranked, and continue to surge from new developments in University Place including The Pointe’s twelve new retail shops, 300+ NOVEL apartments, along with a completed $40 million regional library that will open in 2025 and the $50 million North Bridge over Interstate 85 that will link University Research Park.
EXCEPTIONAL LOCAL ECONOMIC DRIVERS: Part of the University Place mixed-use development adjacent to UNC Charlotte, University Research Park and Atrium Hospital with access to 80,000 employees and 30,000 students, and to the JW Clay/University light rail station which has 30,000 riders per day and connects to major transit oriented developments.
VANGUARD RELOCATION TO UNIVERSITY RESEARCH PARK: In 2025, Vanguard began the consolidation of 2,400 employees to a nearby newly constructed office campus which Centene Corporation had reportedly invested $1 billion to complete.
DEMONSTRATED RETAIL RENTS: Base rates at comparable shops in University Place average over $40 per square foot, including many new long-term leases post-pandemic, representing the enduring market appeal of the immediate area and property.
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