2332 Matthews Township Pkwy
Matthews, NC 28105

SRS Investment Properties Group, as exclusive broker, is pleased to issue an initial Call for Offers on Matthews Corners Shopping Center, an established community center located in Matthews, NC, featuring Hobby Lobby, Marshalls, Academy Sports and Ollie’s Bargain Outlet. Hobby Lobby, Ollie’s Bargain Outlet and Marshalls create a one-stop shopping destination, at Matthews Corners, for value-minded consumers. With the discount retail sector continuing to perform well globally, the anchor base at the Property is characterized by expanding retailers buoyed by internet-resistant shop tenants, including Jersey Mike’s, Signs by Tomorrow and beauty service providers. In addition to Academy, Matthews Corners is anchored by established retailers which comprise 95.6% of the total GLA. With an aggregate anchor lease term of over seven years remaining, the predominantly national tenant roster provides notable stability, enabling buyer ability to secure attractive financing. Marshalls, which expires in 2022, has tenure at the Property since 1995 and reports excellent sales, which have trended up an average of 7.3% YOY since 2015. Hobby Lobby currently occupies space which it sub-leases from Food Lion. The Food Lion lease is guaranteed by Delhaize America, providing ownership of the Property with an extremely strong guarantor. Ahold Delhaize is one of the largest food retail groups in the world, serving more than 50 million shoppers each week in the United States, Europe and Indonesia in over 6,700 stores. Headquartered in the Netherlands, Ahold Delhaize shares are listed on Euronext Amsterdam and Brussels (ticker: AD) and American Depositary Receipts trade over-the-counter on OTCQX International (ticker: ADRNY). The Property boasts ongoing leasing momentum over the last 24 months, including the addition and recent opening of Academy Sports in 2018, Nail Max on a 10-year lease in 2017, and Carmen Carmen Salon on a 5-year lease in 2018. Additionally, a multi-tenant outparcel building, which is under construction and not a part of the offering, will include Five Guys and BetterMed Urgent Care, further bolstering the Property’s varied customer draws throughout the day. Location Matthews Corners Shopping Center is located in Matthews, NC – just 20 minutes (11 miles) from Downtown Charlotte via US-74. Situated in Mecklenburg County, just inside I-485, on the southeast side of the city, Matthews is a rapidly-growing bedroom community within the Charlotte-Concord-Gastonia metropolitan statistical area. With a population exceeding 2.5 million, the Charlotte-Concord-Gastonia MSA is the 22nd largest metro area in the U.S., and Mecklenburg County is home to more than 1,000,000 people - making it the most densely populated county in North Carolina. A city that has expanded and developed in conjunction with interstate 485, Matthews provides small town appeal with convenient access to the world-class dining, entertainment, professional sports, and culture of a major metropolitan area just a short drive away. With its proximity to Downtown Charlotte and easy commuter access to its jobs, big city amenities and entertainment; the US-74 corridor southeast of the city, has been one of the fastest-growing areas in North Carolina. The Matthews community continues its rapid expansion, characterized by a dense, affluent community with an abundance of disposable income. The trade area surrounding the Property benefits from a five-mile population of 161,947, a projected annual growth rate of 1.64% and an average household income of $101,033. Matthews Corners is strategically situated at US-74 and Matthews Township Pkwy (NC-51). Accommodating 57,000 VPD, US-74 is the primary traffic thoroughfare, connecting bedroom communities like Monroe, Indian Trail and Matthews, NC to Downtown Charlotte. Matthews Township Pkwy serves as THE retail shopping nucleus for southeast Charlotte, highlighted by Matthews Corners Shopping Center, as well as major retailers (across the street), including Costco, Lowe’s, Best Buy, Dick’s, Michaels, Old Navy and World Market. Additional nearby consumer draws include Harris Teeter, Sam’s Club, Big Lots, The Home Depot, Stein Mart, Target, PetSmart, Kohl’s, Ross, JCPenney and more. Charlotte’s Abounding Accolades: • “No. 9 Fastest-Growing Cities” – Forbes • “No. 24 Most Popular Domestic Cities for American Travelers” - Hotels.com • “No. 23 Best Performing Cities” - Milken Institute • “Top 50 Cities for Global Trade” - Global Trade Magazine • “No. 7 U.S. Markets to Watch” - Urban Land Institute