Asking Price
Area Size
NOI Net Operating Income
Cap Rate

Documents

Enter the "Deal room" for exclusive documents related to this property.

The Deal Room features confidential documents related to this property. To access the Deal Room, you will need to be logged in. If you don't have an account, please create one. More questions? Visit our FAQ.
I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key facts

Year Built 1997
Building Area Net
Occupancy 100.0 %

Property description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale the fee-simple interest in a single-tenant Home Depot (the “Property”) located in Durham, NC. The built-to-suit Home Depot opened for business in 1997 and Home Depot, USA, Inc. (the “Tenant”) signed a long-term lease with 25 years in the primary term. The Tenant just executed a 10-year extension to 2033, with six separate 5-year extension options remaining. The absolute net ground lease features a truly passive income structure, with zero landlord responsibilities and scheduled rent increases. Home Depot provides rare investment grade (S&P ‘A’), pandemic and e-commerce resistant tenancy, boasting 27% revenue growth over the past two years. The Property presents a generational investment opportunity to acquire a rare, A-credit ground lease in the fast-growing Durham market.


Alex Geanakos and Alex Sharrin are Limited Nonresident Commercial Real Estate Brokers 

Investment highlights

  • Corporate ground lease structure with zero landlord responsibilities
  • 11 years remaining with six, 5-year renewal options and scheduled rent increases
  • Investment-grade (S&P 'A'), pandemic-resistant tenancy from Home Depot
  • Rapid growth Durham market (second-fastest growing large city in the US)
  • Home Depot achieved over $150 Billion in FY2021 revenue (14.42% YoY growth)
  • Located 1.5 miles from downtown Durham and Duke University


Last Updated Date: 08 Apr 2022

There was an error submitting your request. Please try again, or submit you inquiry here.

 

PRIVACY NOTICE

JLL, together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of dealing with your enquiry.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.

Last Updated Date: 08 Apr 2022

Do you have any questions?  Visit our FAQ page

JLL  financing

JLL can help you finance and manage your portfolio.
Email us today to see how we can help achieve your ambitions.