E X E C U T I V E S U M M A R Y
R E G E N TTOWNE CENT E RFORT MILL | SOUTH CAROLINA
52,911 SF FOOD LION ANCHORED SHOPPING CENTER
2 | EXECUTIVE SUMMARY REGENT TOWNE CENTER
485
485
485
485
485
8585
77
77
321
321
521
74
601
601
601
75
207
200
200
200
205
218
27
200
49
73
73
3
16
73
27
279
274
55
55
49
161
161
322
101
324
5
Locust
StanfieldMidland
Mint Hill
UnionvilleIndian Trail
Weddington
Monroe Wingate
Matthews
Belmont
Lowell
Stanley
Lincolnton
Denver
Davidson
Landis
Kannapolis
Rockwell
Mt Pleasant
Dallas
Bessemer CityMt Holly
Lowesville
Pineville
Newport
Tega Cay
Fort Mill
McConnells
Indian Land
Waxhaw
Van Wyck
Lesslie
Jaars
Roughedge
York
Filbert
Clover
Bowling Green
Lake Wylie
Harrisburg
Concord
Gastonia
Rock Hill
C H A R L O T T E
Lake
Nom
an
REGENT TOWNE CENTER
DEMOGRAPHIC HIGHLIGHTS
CHARLOTTE HIGHLIGHTS
THE
OPPORTUNITYHolliday Fenoglio Fowler, L.P., acting by and through Holliday GP Corp., a South Carolina licensed real estate broker (“HFF”), has been retained as the exclusive sales representative for Regent Towne Center, a 52,911, 100% leased grocery-anchored shopping center anchored by a high performing Food Lion. The Property is located in rapidly growing Fort Mill, SC (Charlotte MSA), which has experienced population growth of over 38% (3-mile) since 2010. Regent Towne Center offers investors an asset with a long-term anchor lease, minimal deferred maintenance, and the ability to grow rents during their hold period.
ADDRESS 1046 Regent Parkway Fort Mill, SC 29715
YEAR BUILT 2007
OCCUPANCY 100%
GLA 52,911 SF
ANCHOR TENANTS Food Lion
SITE SIZE +/- 7.3 acres
PARKING 5.59/1,000 SF
TRAFFIC COUNTS 17,100 VPD on Highway 21
PROPERT Y SUMMARY
38%POPULATION GROWTH WITHIN A 3-MILE RADIUS SINCE 2010
29%AVERAGE HOUSEHOLD INCOME GROWTH WITHIN A 3-MILE RADIUS SINCE 2010
$96,362ESTIMATED AVERAGE HOUSEHOLD INCOME WITHIN 3 MILE RADIUS
2 | EXECUTIVE SUMMARY REGENT TOWNE CENTER
HOME TO UNIVERSITY OF NORTH CAROLINA-CHARLOTTE
18.19% 77,349 • 4th largest university in North Carolina• 28,500+ undergrad and graduate students• Student enrollment has grown 28% over the
last eight years
NO. 1GROWTH IN NUMBER
OF BUSINESSES wallethub.com of 260 large cities
NO. 1FASTEST POPULATION INCREASE PROJECTION
United Nations
NO. 2BEST STATES FOR
BUSINESSES + CAREERSForbes of State
NO. 3REAL ESTATE
MARKET’S TO WATCHpwc and urban land institute of 75 cities
2010-2021 in the last 24 months
PRO
JECT
ED POPULATION GROWTH
NEW
JOBS ADDED
3 | EXECUTIVE SUMMARY REGENT TOWNE CENTER
STRONG ANCHOR SALES GROWTH Food Lion sales were up 6.6% year over year in 2017, and with 9 years of remaining lease term, the tenant is positioned well to anchor the Property for the long term.
EXCELLENT FUNDAMENTALS Ideal Shop Space Ratio: The Property has a favorable amount of shop space with less than 15,000 SF
Access: Signalized main entrance on U.S. Highway 21 with immediate access to Interstates 77 and 485
Visibility/Traffic: All shop space sits parallel to the main access, providing excellent visibility for the over 17,000 vehicles per day that travel past the Property
INVESTMENT HIGHLIGHTS
12 3 4 5 6 7 8
REG
ENT
PKW
Y
21 17,100 VPD
Suite Tenant SF1 Food Lion 38,0032 Regal Cleaners 9763 Upscale Nail & Spa 1,3004 Palmetto Pharmacy 1,2725 Xplore Scuba 1,2576 Rainbow Cafe 3,2407 Fantastic Sam’s 1,7148 Brothers Auto Tech 5,149
Total 52,911
TENANT ROSTER
AvailableCurrent Tenant
4 | EXECUTIVE SUMMARY REGENT TOWNE CENTER
ROBUST DEMOGRAPHIC ENCLAVE & STRONG ECONOMIC DRIVERS• Exceptional Employment Base & Attractive Quality of Life
• Outstanding Demographics (3-Mile): AHHI – $96,362; Population – 35,737
• Highly Educated Workforce Driven by Robust Banking and Financial Sectors
Population 1-Mile 3-Mile 5-Mile
2023 Projection 5,851 40,330 147,757
2018 Estimate 5,121 35,737 132,089
5-Year Projected Population Growth 14.3% 12.9% 11.9%
2018 Est. Average Household Income $91,131 $96,362 $90,752
21 17,100 VPD
REG
ENT
PKW
Y
R E G E N T T O W N E C E N T E R
CONVENIENT INGRESS AND EGRESSSituated between two signalized intersections, with over 650 feet of frontage along the well trafficked Highway 21 (17,100 VPD), Regent Towne Center enjoys the efficient ingress and egress necessary for a neighborhood grocery anchored shopping center. Additionally, the Property resides on the going home side of Regent Parkway, adding additional convenience to commuting shoppers living in on of Regent Park’s many communities.
4 | EXECUTIVE SUMMARY REGENT TOWNE CENTER
5 | EXECUTIVE SUMMARY REGENT TOWNE CENTER
STRATEGIC NEIGHBORHOOD LOCATIONRegent Towne Center is strategically located at the entrance to Regent Park residential development, a multi-purpose golf course community 10 miles from downtown Charlotte with 16 communities encompassing condos, townhomes, and single family residences. Neighborhood prices range from low $100,000’s for a condo to north of $600,000 for a single-family home.
POPULATION GROWTH & IMPROVING DEMOGRAPHICSThe area within 3 miles of the property has seen population growth to 35,737, or 38% since 2010. This demographic shift has brought in a more affluent population, with average household incomes climbing 29% to $96,362 over the same period.
HIGH VISIBILITY LOCATION AT THE ENTRANCE TO
RAPIDLY GROWING RESIDENTIAL COMMUNITY
R E G E N T T O W N E C E N T E R
THE HAVEN AT REGENT PARK288 UNITS; 4Q18 DELIVERY
THE COMMONS AT FORT MILL APARTMENTS
144 UNITS
FAIRWAY TOWNHOMES AT REGENT PARK
$250K - 250K PER UNIT
WILLOWS AT FORT MILL APARTMENTS
318 UNITS
77
485
0.5 Miles | 152,700 VPD17,100 VPD21
51
Regent Park way
CONDOMINIUM UNITS$100K - $150K
MCCULLOUGH BY JOHN WIELAND HOMES
$300K - $400K
SINGLE FAMILY RESIDENCES$200K - $300K
SINGLE FAMILY RESIDENCES$200K - $300K
SINGLE FAMILY RESIDENCES$350K - $600K
SINGLE FAMILY RESIDENCES$200K - $300K
SINGLE FAMILY RESIDENCES$350K - $500K
SINGLE FAMILY RESIDENCES$250K - $350K
HERITAGE INTERNATIONAL MINISTRIES CONFERENCE CENTER
BALLANTYNE
CAROLINA PLACE MALL
NATION FORD HIGH SCHOOL
6 | EXECUTIVE SUMMARY REGENT TOWNE CENTER
ATLANTA
AUSTIN
BOSTON
CAROLINAS
CHICAGO
DENVER
DALLAS
FLORHAM PARK (NJ)
HARTFORD
HOUSTON
INDIANAPOLIS
LAS VEGAS
LOS ANGELES
MIAMI
NEW YORK
ORANGE COUNTY (CA)
ORLANDO
PHILADELPHIA
PHOENIX
PITTSBURGH
PORTLAND (OR)
SAN DIEGO
SAN FRANCISCO
SEATTLE
TAMPA
WASHINGTON, DC
LONDON, UK
financing
TRAVIS ANDERSONSenior Managing Director
704.526.2806 [email protected]
analysts
WARREN JOHNSONReal Estate Analyst
919.309.5819 [email protected]
CORY FOWLERAssociate Director
704.526.2807 [email protected]
investment advisors
TOM KOLARCZYKDirector
704.526.2813 [email protected]
201 NORTH TRYON STREETSUITE 1400CHARLOTTE, NORTH CAROLINA 28202
4242 SIX FORKS ROADSUITE 876RALEIGH, NORTH CAROLINA 27609