Troutman, NC

• Walgreens has an 11 year operating history here and this location has been operating as a pharmacy since 2007.
• There are over 14 years of lease term remaining with replaceable market rents and 10 (5 year) options to follow.
• Troutman’s population increased 44% from 2019 to 2024 and is currently growing at a rate of 8.8% annually.
• In 2021, less than a mile and a half from the Property Walmart completed construction of a new 1-million square foot distribution center, adding 500 full time jobs.
• 1.5 Miles from Subject Property, Walmart recently completed construction of a new 1-million square foot distribution center adding 500 full time jobs.

This Property allows investors the rare opportunity to acquire a long term, corporate guaranteed Walgreens asset with replaceable market rents in a rapidly growing market. The town of Troutman has seen a steady 44% increase in population in the past five years, and is undergoing major economic redevelopment to sustain the growth.

Less than 1.25 miles East of the Property, Walmart recently completed construction of a new 1 million square foot distribution center, creating over 500 full time employees. North Fork Business Park and Collett Industrial, located adjacent to the Walmart, are set to complete construction on an additional 1 million square feet of industrial and office space this year, bringing new employers to the market.

With over 1 million square feet of existing industrial space in a 1-mile radius, The Property benefits from being situated in the economic HUB for the market. Keystone Powdered Metal Company and C.R. Onsrud, both located within 1-mile of the Property, serve as the major employers in Troutman and employs over 700 individuals.

In March 2023, Governor Roy Cooper signed legislation to expand Medicaid in North Carolina, extending health care coverage to over 600,000 people. This development serves as a significant catalyst for the Walgreens Pharmacy division, providing new demographics with access to subsidized healthcare. For the second consecutive year, North Carolina has been named America’s top state for business, ranking in the top 3 for domestic GDP. The state added nearly 29,000 new jobs and attracted $19.3 billion in investments.

Listed in conjunction with Brian Brockman, Bang Realty, 513-898-1551, [email protected], NC DRE Lic. 298998.