Available $2,638,548 - Retail - Single Tenant
Investment Offering & Highlights
- DESIGNATED OPPORTUNITY ZONE
The property is positioned within a designated Opportunity Zone providing investors with long term capital gain benefits
- SIGNIFICANT RENT INCREASES BETWEEN OPTIONS
Lease provides a 12% rent increase during the initial option period and 10% between subsequent options
- ABSOLUTE NET LEASE STRUCTURE
Zero landlord responsibilities for operating or capital expenses
- “A” CREDIT RATING BY STANDARD & POOR’S
Lease guaranteed by BSRO, a wholly owned subsidiary of Bridgestone Corporation
- POSITIONED IN THE HEART OF AN EXTREMELY DENSE RETAIL HUB
Over 2.9 million square feet of retail space within a one mile radius
- POSITIONED ALONG AREA’S MAIN TRAFFIC CORRIDOR
Combined daily traffic counts exceed 73,300 vehicles per day
The subject property is a 6,161 square foot building located in Newnan, Georgia, a designated Opportunity Zone.
Bridgestone, which is doing business as Tires Plus, signed a 22 year lease which commenced in October of 2000, leaving approximately 3.5 years remaining on the initial lease term. The initial option period provides a 12 percent rent increase with 10 percent rent increases between the three subsequent 5 year renewal options.
The lease is absolute net providing for zero landlord responsibilities. The leasing entity, Bridgestone Retail Operations (BSRO), is a wholly owned subsidiary of Bridgestone Corp which has an “A” credit rating by Standard & Poors.
Located along Bullsboro Drive, the subject property is positioned in the heart of the area’s main retail hub with over 2.9 million square feet of retail space within a one mile radius. Newnan Crossing, which is directly across from the site, is an 805,000 square foot power center anchored by Target, BJ’s Wholesale, JC Penney, TJ Maxx, Michaels, Old Navy and numerous others. Additionally, the property is across from Ashley Park, a premier 716,000 square foot regional open-air center anchored by Dillard’s, Belk, Best Buy, Dick’s Sporting Goods, Barnes & Noble and Regal Cinemas.
The immediate area provides a critical mass of both necessity and specialty retailers that serves southern Metro Atlanta’s rapidly expanding I-85 corridor and the burgeoning communities of Newnan and Peachtree City. The property is positioned adjacent to the intersection of Bullsboro Drive and Millard Farmer Industrial Boulevard with combined daily traffic counts in excess of 73,300 vehicles per day.
- Price: $2,638,548
- Cap Rate: 7.65%
- Building Size: 6,161 SF
- Status: Available