Elon Town Center
Mixed Use | 19,624 SqFt
Marketing description
Elon Town Center sits directly on the Elon University campus at 130 N. Williamson Avenue in Elon, NC. The property benefits from consistent daily foot traffic from students, faculty, and staff at this nationally recognized private institution of approximately 7,000 students. This campus-integrated positioning insulates the asset from typical retail market volatility, as demand is driven by a captive university population. Additionally, the property is located across from the School of communications, which completed a $15M renovation and expansion in 2017.
The property is 100% occupied across 19,624 SF. Elon University occupies approximately 85% of the building across three spaces (Book Store and two office suites) with all three leases extending through July 2041. Additionally, all three Elon leases include two 10-year and one 5-year renewal option. Pandora's Pies occupies 2,951 SF through February 2031, and has been in place since opening in 2012.
Elon Town Center is a 3-story, 19,624 SF mixed-use asset combining retail and office space tailored to the university's needs. The building houses the Elon University Book Store, two university office suites, and a local Pizza restaurant Pandora's Pies. This diversified use profile reduces dependency on any single demand driver and positions the property to adapt to evolving campus needs over time.
Investment highlights
- Elon Town Center sits directly on the Elon University campus at 130 N. Williamson Avenue in Elon, NC. The property benefits from consistent daily foot traffic from students, faculty, and staff at this nationally recognized private institution of approximately 7,000 students. This campus-integrated positioning insulates the asset from typical retail market volatility, as demand is driven by a captive university population. Additionally, the property is located across from the School of communications, which completed a $15M renovation and expansion in 2017.
- The property is 100% occupied across 19,624 SF. Elon University occupies approximately 85% of the building across three spaces (Book Store and two office suites) with all three leases extending through July 2041. Additionally, all three Elon leases include two 10-year and one 5-year renewal option. Pandora's Pies occupies 2,951 SF through February 2031, and has been in place since opening in 2012.
- Elon Town Center is a 3-story, 19,624 SF mixed-use asset combining retail and office space tailored to the university's needs. The building houses the Elon University Book Store, two university office suites, and a local Pizza restaurant Pandora's Pies. This diversified use profile reduces dependency on any single demand driver and positions the property to adapt to evolving campus needs over time.
- Within a 5-mile radius, the estimated 2025 population exceeds 90,500 residents with an average household income of $89,301, well above the national average. Elon University's student body and faculty further supplement the local population, creating a denser effective trade area than surrounding demographics alone suggest.
- Elon Town Center benefits from its proximity to Greensboro, one of North Carolina's fastest-growing metros. The city has seen a record $1B in building permits, up 37% since 2022, anchored by major investments including Toyota's $13.9B battery manufacturing facility and VinFast's $4B EV plant expected to create 7,500 jobs. With over 100K higher education students in the Greensboro-High Point area, the region continues to attract a young, educated workforce that supports surrounding retail demand.
- Elon University's merger with Queens University of Charlotte represents a transformative growth chapter for the institution, further solidifying its national profile and expanding its reach across North Carolina. With the merger expected to bring additional resources, academic programs, and enrollment growth, the university's main campus in Elon stands to benefit from increased investment and heightened visibility, reinforcing long-term demand drivers for Elon Town Center.
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