2508 Cuthbertson Rd
Waxhaw, NC 28173

The subject property is a 149,000 square foot Lowe’s Home Improvement located in Waxhaw, North Carolina. The property features excellent exposure being on a major commercial thoroughfare. The site benefits from its location near Walmart Neighborhood Market. The tenant is subject to an absolute triple-net ground lease with 10 years remaining on the initial term with increases in rent of 10% every ten years. There are zero landlord obligations and a corporate guaranty (NYSE:LOW). Waxhaw is a town in Union County, North Carolina. The population was 9,859 according to the 2010 Census. The original inhabitants of the region were a Native American people group known alternately as either the Wysacky or the Waxhaws. The first European to record contacting the group was the Spanish conquistador Juan Pardo. In 1711 the Waxhaw aided the colonists of North Carolina in their war against the Tuscarora, a decision which antagonized the Tuscaroras Iroquoian allies in New York who subsequently began raiding the Waxhaw tribe. These raids continued until 1715 when the Waxhaw joined the Yamasee war effort against the colony of South Carolina. The tribes involvement in the Yamasee War led to their destruction at the hands of South Carolina’s Catawba allies and the freeing of their land for European settlement. The area was first settled by European-Americans in the mid-eighteenth century. Most settlers were of German and Scots-Irish origin. Settlers became subsistence farmers and were known for being independent. Andrew Jackson, the seventh President of the United States, was born nearby in 1767. There is some disagreement as to which of the Carolinas was his birthplace because of the proximity of the border.