Deals
Turner Hill Marketplace – Stonecrest, GA (ATL MSA)
THE OPPORTUNITY
- 7 Years of term remaining on Burlington lease with escalation in base rent in 2022
- New 10-year lease with American Signature Furniture with a rental increase in year 5
- New 10-year lease with Chapel Beauty with annual escalations
- Limited small shop space consisting of only 4,200 SF
- 100% occupied shopping center
- Significant organic rent growth over the next 10 years through built in escalations and options
THE HIGHLIGHTS
- Strategically located just minutes from Downtown Atlanta
- Located at signalized intersection and with over 19,000 vehicles per day on Turner Hill Rd at Stonecrest Pkwy, one of the best locations within the market
- Dense retail corridor with Stonecrest Mall and Walmart Supercenter on either side of the shopping center.
- Easy access to I-20, which has over 112,000 VPD
- Well maintained, completely renovated Shopping Center in great physical condition
- 101,588 residents within 5-mile radius
- Asset benefits from continued growth of the Atlanta market
THE DEAL POINTS
- Square Feet: 124.294 SF
- Cap Rate: 8.00%
- Asking Price: $17,690,000
- Year Built/Renovated: 2001/2017
- NOI: $1,415,247
- Occupancy: 100%