North Hill Plaza | AT&T & FastMed Urgent Care
Retail | 6.75% CAP | 4,800 SqFt
Marketing description
Northmarq is pleased to present to qualified investors the opportunity to acquire the fee simple interest in the North Hill Plaza, located at 825 Blowing Rock Blvd, in Lenoir, North Carolina. The subject property is fully occupied by AT&T and FastMed Urgent Care on Modified NNN leases with annual escalations, minimal landlord responsibilities, and a WALT of roughly 3.9 years. Both tenants have been in place for over 10 years, with AT&T recently executing their first renewal option. The AT&T franchisee, Prime Comms Retail, LLC, is the nation’s largest privately held AT&T authorized retailer with nearly 2,000 locations nationwide. FastMed Urgent Care is backed by Blue Cross Blue Shield of North Carolina (S&P: A+) and operates 44 locations across the state with limited urgent care competition in the Lenoir market. Primely located along Blowing Rock Blvd (28,500+ VPD), the property is an outparcel to a Planet Fitness and Dunham’s Sports anchored center with nearly 1 million annual visits (placer.ai), and the neighboring center is anchored by a Walmart Supercenter.
Investment highlights
Prime Passive Investment Opportunity
100% Occupied by AT&T and FastMed Urgent Care on Modified NNN Leases with Annual Escalations & Minimal Landlord Responsibilities | WALT of ±3.9 Years
Long-Term Operating History with Proven Location Durability
Both Tenants Have Been In-Place for Over 10 Years | AT&T Recently Exercised Their First 3-Year Option | FastMed Urgent Care has 5 Years Remaining on Their 15-Year Lease
Nation’s Largest Privately Held AT&T Authorized Retailer
Prime Comms Retail, LLC is AT&T’s Largest Privately Held Authorized Retailer | Nearly 2,000 Locations Nationwide & 7,500 Employees
FastMed Owned by Investment-Grade Parent Company
FastMed Urgent Care is a Growing Brand with 44 Locations Across North Carolina | Now Owned by CuraCor, a Subsidiary of Blue Cross Blue Shield of North Carolina (S&P: A+)
Dominant Market Position
Limited Urgent Care Competition in Lenoir with Only Two Other Urgent Care Providers in the Immediate Surrounding Area
Strategically Positioned Outparcel
Primely Situated on Blowing Rock Blvd (28,500+ VPD), One of Lenoir’s Main Thoroughfares | Outparcel to a Planet Fitness & Dunham’s Sports Center with Nearly 1 Million Annual Visits (placer.ai)
Ideal Location in a Dense Retail Corridor
Neighboring Center Anchored by a Walmart Supercenter | Other National Tenants in the Immediate Surrounding Area Include Aldi, Tractor Supply, Dollar Tree, Starbucks, Chipotle, Chick-fil-A, and More
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