6021, 6050 gateway center drive land asset overview€¦ · imperial supplies. keller williams....

© 2019 Jones Lang LaSalle IP, Inc. All rights reserved.

6021, 6050 Gateway Center Drive Land Asset OverviewPROPERTY DETAILSMunicipality City of KannapolisAddresses 6021, 6050 Gateway Center Drive

Kannapolis, North Carolina Acreage (approx.) Site A: +/- 0.80 acres (Graded site)

Site B: +/- 1.08 acres (Graded site)Cabarrus County PIN Site A: 4691987378

Site B: 4691989152Availability Available Immediately –

No Co-Tenancy IssuesZoning CD (Campus Development District)By – Right Uses Retail, Office, Services Uses, Light

Manufacturing, Warehouses

Pricing Site A: $420,000Site B: $565,000

Stewart Haas Racing, Haas F1 Team

Novant Health Logistics Center

PSNC Energy Store, Edward Jones, Keller WilliamsImperial Supplies

Cardinal Logistics Management, MHC Kenworth Concord, Self Storage

I-85 Exit 55 101,000 VPD

Rowan-Cabarrus Community College

Proposed Hotel Development

Proposed Multifamily Development

CENTRALIZED ACTIVITYWith proximity to numerous restaurants and office space, this is an excellent opportunity to capitalize on the growth in the market. The site allows for easy access while still in close proximity to I-85.

CITY FLEXIBILITY FOR ALTERNATE USEThe City of Kannapolis is bullish on development along this corridor and based on conversations with staff, there is flexibility to allow alternative uses besides what is allowed by-right.

UPSIDE POTENTIALThe site is located in the growing Kannapolis area next to a hub of jobs for Haas Racing, Novant Health, PSNC and Amazon. NCDOT has plans for road improvements to improve the intersection, further improving the quality for development in the area.

ADJACENT DEVELOPMENTSWith a hotel development proposed adjacent to the site as well as Amazon’s 1,000,000 SF Fulfillment Center, residential and retail development are in demand as more jobs come to the area.

SHARED PARKING AGREEMENTThere is an agreement that runs with the land between the city of Kannapolis and the property owners to allow for shared parking with adjacent properties. Compatible architecture, ingress and egress, cross parking and related items are designed for all property owners to operate harmoniously.

Property has signage rights on the corner

Shared Access – Road able to be removed with future development and

tied into cul-de-sac

A

B

N

Investment AdvisorRyan [email protected]

AnalystAlexis [email protected]

201 North Tryon Street, Suite 1400Charlotte, NC 28202



6021 Gateway Center Drive Land Asset OverviewPROPERTY DETAILSMunicipality City of KannapolisAddresses 6021 Gateway Center Drive

Kannapolis, North Carolina Acreage (approx.) +/- 1.08 acres (Graded site)Cabarrus County PIN 4691989152Availability Available Immediately –



Pricing $565,000









I-85 Exit 55 101,000 VPD






NN





6050 Gateway Center Drive Land Asset OverviewPROPERTY DETAILSMunicipality City of KannapolisAddresses 6050 Gateway Center Drive

Kannapolis, North Carolina Acreage (approx.) +/- 0.80 acres (Graded site)Cabarrus County PIN 4691987378Availability Available Immediately –



Pricing $420,000





I-85 Exit 55 101,000 VPD








Shared Access – Road able to be removed with future development and

tied into cul-de-sac



N




Gateway Center Drive Land: Surrounding Activity

Cabarrus Charter Academy

Ferguson Plumbing Supply, Rite Lite, STI Turf Care, ECS Enterprises, Cardinal Logistics

Management, Golden Galt Trailers

Stewart Haas Racing, Haas Formula One Team, Novant Health Logistics Center Stanley Black and Decker Distribution Center,

Prestige Motorsports, Shoe Show

Rowan Cabarrus Community CollegeTotal enrollment: 22,000 students

SmartPost, Pregal America, Sysco Food Services, Celgard,

Geodis Morton Salt

Gateway Center Drive Land

I-85

I-85Amazon Fulfillment Center

1,000,000 SF | 1,000 jobsOpened May 2019

Gordon Food Service Distribution Center, SP Richards Co, Andrews Motorsports,


Under Construction Multifamily DevelopmentN

I-85 Exit 55

I-85 Exit 54


Kannapolis / Cabarrus County

Kannapolis Downtown Revitalization Project

• A visionary plan to revitalize Downtown Kannapolis is currently underway and expected to attract over $370 million in private investments

September Update:

• The Sports & Entertainment Venue, future home to the Kannapolis Intimidators Minor League Baseball Team, will be open in April 2020

• VIDA, the mixed-use district of apartments, a parking deck, brewery, office and restaurant space are on track to open in 2021

Source: Kannapolis.com

Carolinas HealthCare System NorthEast 4,500S&D Coffee and Tea 1,100Amazon 1,000Speedway Motorsports Inc. 1,000Shoe Show 750ACN 600Corning Inc. 600Hendrick Motorsports 600Great Wolf Lodge & Resort 500Sysco 500DNP IMS 350Perdue Farms 350Roush Fenway Racing 330Legrand/Pass & Seymour 300Stanley Black & Decker 300

Company Number of Employees

Source: cabarrusedc.com 2017

Cabarrus County Major Employers

Kannapolis – Home to North Carolina Research Campus

• 350-acre campus dedicated to improving human health through agriculture and nutrition research

• Began in 2008 | Employs over 1,000 people

• Universities involved include NC State University, UNC-Chapel Hill, UNC Charlotte, UNC Greensboro, and more. Source: transforming-science.com

© 2019 Jones Lang LaSalle IP, Inc. All rights reserved. 6

Demographics

3-MILE5-MILE

30-Min Drive from Downtown Charlotte

POPULATION 3-MILE RADIUS 5-MILE RADIUS2024 Projection 26,851 97,7732019 Estimate 23,895 86,3842019-24 Growth 12.4% 13.2%Bachelor's Degree or Higher 38.7% 34.9%HOUSEHOLDS 3-MILE RADIUS 5-MILE RADIUS2019 Estimate 8,949 32,1862019-24 Growth 7.8% 8.5%HOUSEHOLD INCOME 3-MILE RADIUS 5-MILE RADIUSAverage $95,951 $87,2862019-24 Growth 11.0% 10.3%

NC - 73

N

Kannapolis Pkwy / George W Liles Pkwy

Property

Sheet1

POPULATION3-MILE RADIUS5-MILE RADIUS

2024 Projection26,85197,773

2019 Estimate23,89586,384

2019-24 Growth12.4%13.2%

Bachelor's Degree or Higher38.7%34.9%

HOUSEHOLDS3-MILE RADIUS5-MILE RADIUS

2019 Estimate8,94932,186

2019-24 Growth7.8%8.5%

HOUSEHOLD INCOME3-MILE RADIUS5-MILE RADIUS

Average$95,951$87,286

2019-24 Growth11.0%10.3%


Nearby Retail Activity (Target – 6150 Bayfield Pkwy, Concord, NC 28027)

Driving direction of those passing the Subject Property returning from Target.

Target

Property

Within the past 12 months, at least 430K of the 2.2M total visits to Target in Concord (or roughly 20%) passed by the Subject Land Parcels post visiting the store. Within that same time, at least 240K of the 2.2M total visits to Target passed by the Subject Land Parcels en route to the store.

Source: Placer.ai

N

Traffic From / To Target

Kannapolis Parkway 22,000 VPD

NC-73 27,000 VPD

#1 ranked Target in North Carolina (NC) in terms of visits with 2.2 million within the past 12 months. This is 300k more visits

than the #2 rated Target in NC.


Possible Retailers at Subject Property Site (3-Mile Void Analysis)

3-MILE RADIUS SURROUNDING LAND PARCELS

Avg. 1,200 SF

Avg. 2,700 SF

Avg. 4,900 SF

Avg. 4,711 SF

Avg. 3,000 SF

Avg. = National Average Store Size (SF)

Avg. 4,250 SF

Avg. 2,725 SF

Avg. 1,700 SF

Avg. 4,000 SF

Avg. 3,000 SF

Retailers / Fitness with Nearest Location at Least 3 Miles Away From Subject Land Parcels

Other Potential Retailers

Source: Creditntell

Baskin Robbins 1,150 SFCold Stone Creamery 1,200 SFDomino's Pizza 1,350 SFWing Zone 1,350 SFTropical Smoothie Café 1,400 SFDickey's Barbeque Pit 1,500 SFLittle Ceasars 1,500 SFWingstop 1,600 SFWaffle House 1,700 SFKFC 2,000 SFEast Coast Wings + Grill 2,100 SF

The Habit Burger Grill 2,400 SFPanda Express 2,400 SFTaco Bell 2,500 SFMoe's Southwest Grill 2,500 SFLong John Silver's 2,500 SFFive Guys 2,500 SFBlaze Fast Fire'd Pizza 2,600 SFNoodles & Company 2,650 SFZoes Kitchen 2,750 SFShake Shack 3,250 SFWendy's 3,300 SFPeet's Coffee and Tea 3,500 SFBurger King 3,500 SFSteak'n Shake 3,500 SFAspen Dental 3,750 SFFirst National Bank 3,869 SF

Farrell's eXtreme Bodyshaping 4,250 SF

Denny's 4,400 SFSunTrust Bank 4,500 SFIHOP 4,500 SFMedExpress Urgent Care 5,100 SFRed Robin Gourmet Burgers 5,150 SFFirst Citizens Bank 5,503 SFRuby Tuesday 5,900 SFFuddruckers 6,000 SFBonefish Grill 6,000 SFJason's Deli 6,004 SFCarrabba's Italian Grill 6,300 SFBob Evans Restaurant 6700 SFLogan's Roadhouse 7,000 SFWorkout Anytime 7,000 SFTexas Roadhouse 7,350 SFOlive Garden 7,700 SFPet Supermarkets 8,000 SFCheddar's Scratch Kitchen 8,000 SFOutback Steakhouse 8,000 SFWestern Sizzlin' 8,300 SF

La Petite Academy N/A

Goddard School (2.5 miles) N/AChesterbrook Academy N/AThe Learning Experience N/ABright Horizons N/AKinderCare N/A

= Food Tenant

Sample list of retailers without a presence within 3 miles of the Subject Property site - this is not an exhaustive list.

6021, 6050 Gateway Center Drive LandAsset Overview6021 Gateway Center Drive LandAsset Overview6050 Gateway Center Drive LandAsset OverviewGateway Center Drive Land: Surrounding ActivityKannapolis / Cabarrus CountyDemographicsNearby Retail Activity (Target – 6150 Bayfield Pkwy, Concord, NC 28027)Possible Retailers at Subject Property Site (3-Mile Void Analysis)

6021, 6050 gateway center drive land asset overview€¦ · imperial supplies. keller williams....

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