140 Cupped Oak Dr

• 140 Cupped Oak Drive presents investors with the opportunity to acquire a 6,000-square-foot industrial facility situated on 1.19 acres in Matthews, North Carolina, an established industrial submarket located approximately 15 miles southeast of Uptown Charlotte.
• Developed as a build-to-suit facility for John Deere Landscapes in 2004, the predecessor to SiteOne Landscape Supply, the property has been continuously occupied by the tenant and its successor since construction, representing more than 22 years of uninterrupted operating history at the site.
• The property is leased under a triple-net (NNN) industrial lease with limited landlord responsibilities for the roof, structure, building systems, exterior paved areas, and exterior gutters/water spouts.
• The lease expires February 28, 2030, providing approximately 3.5 years of remaining contractual cash flow, and includes 3% annual rental increases with no renewal options.
• Current annual base rent of $55,070.04 ($9.18/SF) is significantly below prevailing market levels based on comparable leasing activity, creating a compelling mark-to-market opportunity at lease expiration.
• With no renewal options, ownership will have the flexibility to negotiate a new lease at market rates or pursue an alternative leasing strategy upon rollover.
• Ownership has recently completed significant capital improvements, including a full metal roof restoration/coating system in 2024 backed by a 10-year leak warranty, as well as the installation of new exterior lighting, minimizing anticipated near-term capital expenditures and enhancing the property’s long-term value.