169 Auction Dr Rocky Point, NC 28457

This absolute net lease investment opportunity is located in metro Wilmington, NC. The property is occupied by Manheim Auto, a provider of end-to-end wholesale vehicle solutions. Developed in 2024, the facility sits on approximately 37.8 acres of a 58.5-acre site, with the balance of the acreage consisting of wetlands. Manheim relocated to this state-of-the-art facility from an existing location in Wilmington. The property is under a 10-year absolute net lease with a corporate guarantee, commencing in November 2024, and includes three 5-year renewal options with 3% annual rent increases throughout the term. Manheim is a Cox Automotive brand. The property is located in south Pender County, along US-117 just off I-40, less than 30 minutes from downtown Wilmington, the Port of Wilmington, and Wilmington International Airport. The location provides immediate access to I-40 via exit 408, connecting Wilmington to Raleigh. Wilmington International Airport is located 13 miles from the property and had 1.3 million travelers in 2023. The Port of Wilmington is 18 miles from the property. UNC-Wilmington is 16 miles from the property. There are over 38 acres available to redevelop. The property contains 14,400 square feet.