DEALS

Deals

Shoppes at Locust Grove – Locust Grove, GA

THE OPPORTUNITY

89,567 SF Publix and Fresenius Medical Care Anchored Shopping Center For SaleShoppes at Locust Grove, Locust Grove, Ga (Atlanta MSA)

The Palomar Group is pleased to exclusively offer the sale of Shoppes at Locust Grove, anchored by Publix and Fresenius Medical Care.  Shoppes at Locust Grove is a 89,567 square foot 97% occupied neighborhood shopping center located in one of the fastest growing suburbs in the Atlanta MSA.  Publix’s sales have grown over 20% in the past 6 years with just under seven years of remaining term.  The recently executed 10 year lease with Fresenius solidifies the asset’s long term position as the dominant grocery anchored shopping center in the Locust Grove market.

THE DEAL POINTS
  • Square Feet:  89,567sf
  • Year Built: 2006
  • NOI: $876,583
  • Asking Price:  $12,523,000
  • Cap Rate:  7.00%
  • Tenants: Publix, Fresenius Medical Care, Workout Anytime, Subway, Supercuts, Edward Jones, Allstate
  • Publix Term Exp.: 11/30/26
  • Tenant Lineup:  62% of the center is made up of National Tenants
  • Fresenius Health Care:  10yr term with built in rental escalations