Atlantic Capital Partners has been engaged to offer a free-standing Mattress Firm in the growing market of Shelby, NC, which is 45 minutes West of Charlotte, NC. Mattress Firm signed a 10-year lease with a 10% rental increase in year 6, projected to commence in late May.
- Strong Corporate Guaranty- Mattress Firm, America’s largest specialty mattress store, was recently upgraded to a B1 credit rating from Moody’s with a “positive” outlook | With over 2,300 stores and 6,500 employees across 49 states, about 82% of the US population lives within 10 miles of a Mattress Firm
- 10% Rent Increase in Year 6- Provides for a great hedge fund against increasing inflation rates
- Limited Mattress Store Competition- No other mattress specific store lies in Shelby
- Recent Renovation- Mattress Firm recently completed a major renovation to the property to accommodate the quality standards of their top stores
- Dense Retail Corridor- Over 2M square feet of retail lies within a 1-mile radius boasting a vacancy rate of just 2.2% | Lowe’s, Walmart Supercenter, Aldi, Ingles (built 2021), Walgreens, Petsmart, Chick-Fil-A all lie in the immediate surrounding area
- Excellent Signage along Heavily Trafficked Road- E Dixon Blvd realizes 38,500 VPD and is a major thoroughfare through Shelby | Near S Dekalb St (12,000 VPD)
- Dense & Growing Demographics- Over 36,000 people lie within a 5-mile radius of the property | Positive population growth projected within a 1,3, and 5-mile radius of the property | Near planned apartment community, Cambridge Commons, which will feature over 110 apartments