Destination Pet (NC)

Property Type: Retail

FCA purchased this pet boarding and training facility in 2020. This purpose-built, stand-alone facility is located in Granite Falls, NC, approximately 50 miles northwest of Charlotte.

This was a sale-leaseback transaction in which the tenant, Destination Pet, signed a long-term lease at closing. Destination Pet is a growing pet services company with 100+ locations across the U.S. The company offers a mix of pet boarding, grooming, training, and veterinary services.

FCA sold this property in 2021 to a 1031 exchange buyer, thus taking advantage of the tenant’s strengthening credit rating and the historically low interest rate environment.