A German Family Office represented by International Capital purchased an Aldi ground lease in Mt. Airy, North Carolina.
The lease for the approx. 2.5 acre site has an initial term of 20 years (plus six 5-year options). The property is leased to Aldi North Carolina and guaranteed by Aldi Inc. Aldi built, at its own expense, a 21,000 SF grocery store on the property, which opened in June of 2018.
The property is located along the main highway of Mt. Airy, a smaller town, which serves as a retail and service center hub for the surrounding counties. The town is less than an hour’s drive away from the Piedmont Triad, the north-central region of North Carolina with a population of close to 1,7 million in the cities of Winston-Salem, Greensboro and High Point.
The acquisition is the sixth purchase of an Aldi by one of IC’s clients, but the first ground lease acquisition for this client. Reasons were the need for diversification and stabilisation in the client’s US-real estate portfolio.
Martina Crevecoeur, CCIM, International Capital’s Senior Vice President of Acquisitions/Dispositions represented the Family Office in the transaction.