The Pointe at St. Marks

About The Pointe at St. Marks

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Pointe at St. Marks, a 183-unit apartment community located in the rapidly expanding city of Burlington, NC. This desirable pocket of Burlington boasts high average HHI ($96K), soaring home values (35% average YOY), and the highest effective rents in the market (Q4 2022). Situated between I-40/I-85 and US Hwy 70, the asset is surrounded by Burlington’s best retail. The submarket’s major employers, including LabCorp, Alamance Regional Health Center, and Elon University, are within minutes of the property. Built in 2022, The Pointe at St. Marks offers a terrific opportunity to invest in the Carolina Core, a region that is exploding with industry and innovation. The property has performed well during the first stage of lease up, averaging 14 leases per month in 2022’s prime leasing season. With this year’s peak leasing season approaching, The Pointe at St. Marks is primed to increase rents +$60 to close the gap with average rates and highest proven rates, accelerate leasing velocity, and stabilize. This asset represents an outstanding opportunity to acquire a premier asset that offers a unique multipurpose vacant space.