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Investors Get Busy with Net-Lease Deals
One more thing investors are hot for in Charlotte: net-lease properties. Franklin Street Real Estate Services director Bryan Belk tells us that recently he repped both the buyer and the seller of a Dunkin' Donuts-leased property in downtown Charlotte, receiving a dozen offers in 48 hours for the property at 701 S Kings Dr across from Presbyterian Hospital, which still has 10 years to run on a 20-year lease. There was that much interest despite the property’s 5.5% cap rate, which he says is the lowest he’s seen for a Dunkin' Donuts property.
