DEALS

Deals

Willow Lake Crossing – Warner Robins, GA

THE OPPORTUNITY

  • ​Target and Academy Sports shadow anchored
  • ​Part of retail development with over 300,000sf of space
  • ​Only Target store in the Warner Robins market
  • ​Academy Sports estimated to have over 938,000 visitors annually
  • ​Academy Sports store is the 3rd most visited Academy Sports in the state of Georgia
  • ​Strategically located at the intersection of Watson Blvd and Houston Lake Rd
  • ​Main & Main location on the largest retail corridor in Warner Robins
  • ​No tenants lost during COVID
  • ​Strong traffic counts with over 56,972 cars daily
  • ​Watson Blvd: 32,574
  • ​Houston Lake Rd: 24,398

THE HIGHLIGHTS

  • E-Commerce resistant and Pandemic proof tenant mix with tenant mix of restaurants and service users
  • ​67% of the Rental Revenue comes from tenants occupying space in the center for over 8 years
  • ​53% of Rental Revenue comes from original tenants having occupied space in the center for over 20 years
  • ​All tenants have built in rental increases during their current terms
  • ​Only 2 tenants have options, allowing for Landlord flexibility with renewals
  • ​Rental rates are at or below rates for small shops in neighboring centers
  • ​Parking lot resealed and restriped in 2021
  • ​Façade upgrades in 2021
  • ​LED parking lot lights installed in 2021

THE DEAL POINTS

  • Square Feet: 19,650SF
  • Asking Cap Rate: 7.25%
  • Asking Price: $3,890,000
  • Year Built: 1998
  • Occupancy: 100%
  • NOI: $282,000