main street - cloudinary
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S o u t h F u l t o nMain Street
OF F ER IN G SU M M AR Y
PROPERTY OVERVIEW
INVESTMENT HIGHLIGHTSS o u t h F u l t o nMain Street
NOTABLE TENANTS
KROGERANCHORED
ATLANTAMSA
PROXIMATE TO ECONOMIC DRIVERS
SUBSTANTIAL SUBMARKET GROWTH
SEASONED TENANCY20+ YRS. WTD. AVG. TENURE
LIMITED CAPITAL EXPENDITURES
100%
ADDRESS6055 OLD NATIONAL HWY, SOUTH FULTON, GA 30349
SQUARE FEET129,449 SF
ACREAGE~16 ACRES
AS-IS NOI~$1,240,000
NOI GROWTH / CAGR~40% / 3%+ CAGR
OCCUPANCY100%
YEAR BUILT / RENOVATED1975 / 1997
S o u t h F u l t o nMain Street 2
MAIN STREET SOUTH FULTON IS ANCHORED BY GEORGIA’S #1 GROCER - KROGERKROGER-ANCHORED GEORGIA’S #1 GROCER
Grocer Visits Over Trailing 12 Months
% Market Share (based on grocers included in chart)
166,604,032 46%
142,005,490 39%
24,836,374 7%
21,388,227 6%
10,869,834 3%
Georgia’s Preferred Grocer
Kroger is Georgia’s dominant grocer as evidenced by geo-fencing data.
LARGEST SUPERMARKET CHAIN IN GA AND U.S.
5TH LARGEST RETAILER IN THE WORLD
INVESTMENT GRADE CREDITS&P / MOODYS: BBB / Baa1
FORTUNE 500 COMPANY#20
#1Main Street South FultonKroger Fundamentals
22+ Yrs. of operating history
50% of the total property GLA
Strong Sales Performance
Limited Grocer Competition
Sub 2.5% Health Ratio
Recently Renewed
| 3S o u t h F u l t o n
Main Street
OLD NATIONAL HWY
OLD NATIONAL HWY | 41,421 VPD
| 41,421 VPD
FLAT SHOALS RDFLAT SHOALS RD | 15,768 VPD | 15,768 VPD
DOWNTOWN ATLANTADOWNTOWN ATLANTA
HARTSFIELD JACKSON HARTSFIELD JACKSON AIRPORTAIRPORT
PROXIMITY TO ATLANTA’S PRIMARY TRAVEL ARTERIES
Over 315,000 vehicles per day travel on two Interstates located within two miles of Main St. South Fulton170,576
VEHICLES PER DAY145,453
VEHICLES PER DAY
PROXIMITY TO WORLD’S BUSIEST AIRPORT
#1 Busiest airport in the world
3 MI From Main St. South Fulton
100M+ Annual passengers
$6B Expansion plan underway
ATLANTA MSA
9th Largest Metro in the U.s.
16 FortUne 500 headqUarters based in the atLanta Msa
#1 state For new bUsiness 7TH consecUtive year receiving award
6+ MiLLion residents
6.5% PoPULation growth Projected over the next Five years
#1 Moving destination in the nation (Penske trUck rentaLs)
THE SOUTHEAST’S ECONOMIC ENGINE
S o u t h F u l t o nMain Street
BEAZER CENTENNIAL WALK
NEW CONSTRUCTION HOMES
RONALD E. MCNAIR MIDDLE SCHOOL
120 newly constructed homes ~$250K range
Finalized in 2017, the 187,000 SF learning center enrolls approximately 500 students
S o u t h F u l t o nMain Street | 4S o u t h F u l t o nMain Street
RAPIDLY GROWING SOUTH ATLANTA SUBMARKET
Renewed focus on significant investment from the state and local municipalities in South Atlanta will serve to benefit the Property in the near & long term.
SIGNIFICANT PRIVATE & PUBLIC INVESTMENT
AEROTROPOLIS ATLANTAA strategic master plan which has generated significant plans that have primed the area for economic development, including:
PORSCHE NORTH AMERICA HQ (complete)
$100 million, 24-acre site home to 400 employees and an industry-first Customer Experience Center complete with test track.6 Miles Northeast of the Property
GATEWAY CENTER (complete)
$230 million mixed-use project connected to the Airport & MARTA.3.5 Miles North of the Property
‘SIX WEST’ (proposed)
320-acre, $1.5 Billion, 3.5 million square-foot mixed-use development.3.5 Miles North of the Property
FORT GILLEM (in progress)
1,168-acre world-class distribution park that can accommodate 8.5 million square-feet of industrial and mixed-use space.Includes a Kroger Distribution Center8 Miles North of the Property
ATLANTA AEROTROPOLIS CIDs (in progress)
An organization focused on improving a 15 square mi. district of the Aerotropolis area. Comprised of 175+ owners, key regional employers, and transportation networks, the district’s assessed value exceeds $322 million with a current budget for improvement programs of over $1.6 million.
E.3
THE AEROTROPOLIS ATLANTA AREA AND ITS POLITICAL BOUNDARIES
Study Boundary
Existing MARTA Rail
Community Improvement Districts (CID)
VARIES Municipalities
County Lines
Railroads
Airport South CID
STUDY AREA SNAPSHOT
� 165 Square Miles
� 2 Counties + 10 Cities
� Major Routes: I-285, I-85, I-75
� Population: 297,630
� Employment: 179,480 (2011)
� 10 miles from Downtown Atlanta to the airport
0 1 2 4 MILES
E.3
THE AEROTROPOLIS ATLANTA AREA AND ITS POLITICAL BOUNDARIES
Study Boundary
Existing MARTA Rail
Community Improvement Districts (CID)
VARIES Municipalities
County Lines
Railroads
Airport South CID
STUDY AREA SNAPSHOT
� 165 Square Miles
� 2 Counties + 10 Cities
� Major Routes: I-285, I-85, I-75
� Population: 297,630
� Employment: 179,480 (2011)
� 10 miles from Downtown Atlanta to the airport
0 1 2 4 MILES
MAIN STREETSOUTH FULTON
MAIN STREET SOUTH FULTON TRADE AREA
| 5S o u t h F u l t o n
Main Street
EXCELLENT PROPERTY FUNDAMENTALS
SUITE TENANT SF
1 Daisy Fresh Cleaners 1,400 2 Velox Insurance 800 3 Baddie Body Spa 800 4 YY International Corp 3,780 5 ATC Tax 1,840 6 Barber Shop 1,440
7 Flexible Staffing Solutions 1,260
8 A&D Buffalo Restaurant 1,300
9 Metro PCS 1,260 10 Great Wall Restaurant 1,400 11 Kroger 63,419 12 Humana Health 6,996 13 Hair Creations 1,400
14 Tiggar's Computer Repair 1,400
15 Fine Boutique 2,100 16 Pizza Hut 1,820 17 Rainbow USA 11,360 18 Furniture Rugs & More 5,000 19 Dollar Tree 12,000
20 BP Gas Station (Ground Lease)
21 Subway 1,100 22 This is it! BBQ 900
23 Golden Krust Caribbean Bakery 1,580
24 VIP Nails 3,460 Riser Room 1,634
Total 129,449
T E N A N T R O ST E R
Not IncludedCurrent Tenant
ROBUST TRAFFIC COUNTSOver 57,000 vehicles pass by the Property each day along Old National Hwy. & Flat Shoals Rd.
SEASONED TENANCY
82% of the occupied GLA has been at the property for more than 10 years.
19 Yrs.+ Weighted Avg.Overall Tenure 22 Yrs. Weighted Avg.
Anchor Tenure
SUPERIOR INGRESS / EGRESSThe Property benefits from 7 points of ingress / egress, including one signalized access point at the intersection of Old National Hwy. & Flat Shoals Rd.
GOING-HOME SIDE OF THE RD.Main Street South Fulton is strategically located on the “Going Home” side of Old National Hwy with strong visibility to more than 41,000 vehicles passing by the Property daily.
$VALUE CREATION POTENTIALThe BP Ground Lease component offers optionality to sell off separately or could potentially serve as a future Kroger Fuel Center upon expiration of the BP Ground Lease.
LIMITED CAPITAL EXPENDITURES• All roofs have been replaced in 2020 and were
issued, brand new, 20 year warranties.
• The parking lot is scheduled to be re-striped / re-sealed in Spring 2021.
| 6S o u t h F u l t o n
Main Street
INVESTMENT SALES ADVISORSJIM HAMILTONSr. Managing [email protected]
BRAD BUCHANANSr. [email protected]
ANDREW [email protected]
TAYLOR [email protected]
ANDREW [email protected]
FINANCING ADVISORGREG [email protected]
Copyright @ Jones Lang LaSalle IP, Inc. 2021. This presentation has been prepared solely for informational purposes. The presentation is confidential and may not be reproduced. The contents of this presentation are not to be construed as legal, accounting, business or tax advice.The information contained herein is proprietary and confidential and may contain commercial or financial information, trade secrets and/or intellectual property of JLL and/or its affiliates. Although the information used in this presentation was taken from sources believed to be reliable, there is no representation, warranty or endorsement (expressed or implied) made as to the accuracy, reliability, adequacy or completeness of any information or analysis contained herein. JLL expressly disclaims any and all liability that may be based on such information, errors therein or omissions there from. Certain information in this presentation constitutes forward-looking statements. Due to various risks, uncertainties and assumptions made in our analysis, actual events or results or the actual performance of the types of financing and values covered by this presentation may differ materially from those described. The information herein reflects our current views only, are subject to change, and are not intended to be promissory or relied upon.
S o u t h F u l t o nMain Street