Exchange at Rock Hill
Value Add Opportunity | 54% Occupied | Opportunity Zone
Marketing description
VALUE ADD OPPORTUNITY: The Exchange at Rock Hill has a four, non-subdivided, vacancies totaling 11,330 SF that when leased at conservative market rates could add $360k in revenue to the property. Additionally, the site is located in an opportunity zone providing investors the option to defer capital gains on previous investments, and potentially eliminate taxes on future appreciation through substantial property improvements and a long-term hold strategy.
Investment highlights
STRATEGICALLY LOCATED: The Asset is located less than a quarter mile from Dave Lyle Blvd (22.9K VPD) which is a main artery connecting to I-77 (91.5K VPD), a major highway connecting Rock Hill to downtown Charlotte within a 35 minute drive. Additionally the center is adjacent to S Oakland Ave (14.5K VPD) which leads directly into downtown Rock Hill less than a mile away.
ADDITIONAL MARKET ACTIVITY: The current ownership recently delivered 229 units, in The Exchange apartments. Additionally White Point Partners and the City of Rock Hill are planning a redevelopment which will include over 300 units, of which 10% will be workforce housing, along with additional commercial space directly across Dave Lyle Blvd (22.9K VPD).
PROXIMITY TO ECONOMIC DRIVERS: The asset benefits from key economic drivers including Winthrop University (1.3 miles away) and York County Technical College (2.6 miles away) with student bodies of 6,000 and 7,000 respectively. Rock Hill is also home to 11 business and industrial parks providing ample office and industrial space for corporate relocation and current workforce.
Additionally, the asset is 0.6 miles from the Rock Hill Sports and Event Center, which is part of University Center, a larger 23-acre mixed use development.
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