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Kay Jewelers & The Vitamin Shoppe, Cumming, GA

Kay Jewelers & The Vitamin Shoppe

GA, United States

Price $2,735,000
Cap Rate
NOI
Lease Term Various
Lease Type
Rental Increases Various
Year Built 2016
Building Size 4,719 sq. ft.
Lot Size 0.60 Acres (26,136 sq. ft.)
Status Sold
Lead Broker Information Vince Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Director
415.228.9114
ryan.forsyth@cushwake.com
CA RE License #01716551

Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Investment Highlights

100% LEASED RETAIL CENTER WITH BRAND NEW 10-YEAR LEASES
» 10-year initial term for both Kay Jewelers and The Vitamin Shoppe
» Scheduled rent increases provide a hedge against inflation
» Leased to national, publicly traded tenants with strong brand recognition

PRIME LOCATION IN DENSE RETAIL CORRIDOR
» Outparcel to successful shopping center with national tenants
» Adjacent to Cumming Marketplace and Cumming Town Center – over a million square feet of combined retail area

FAST-GROWING LOCATION IN ATLANTA MSA
» Forsyth County is one of the fastest-growing communities in the U.S., according to CNNMoney and Forbes
» Forsyth is the wealthiest county in Georgia and the 13th wealthiest in the U.S.
» Metro Atlanta is the most populous metro area in Georgia and the ninthlargest MSA in the United States

CLOSE PROXIMITY TO MEDICAL PROVIDERS, TOURIST ATTRACTIONS, AND NEW DEVELOPMENTS
» One mile from Northside Hospital-Forsyth, with 231 beds, 2,600 employees, and 317,000 patient visits per year
» Approximately one and a half miles from Lake Lanier – over 7.5 million visitors annually
» Next to new, premier housing community with 131 single family homes

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is strategically located in a dense retail corridor of Cumming, with visibility and access to 19,890 vehicles per day on Market Place Boulevard. Buford Highway and Highway 19 are just over half a mile from the site, and boast a combined daily traffic count of 88,200 vehicles. Highway 19 is the main artery linking Downtown Atlanta to North Georgia. The property is an outparcel to the Market Village shopping center, tenanted by Sears Home Appliance Showroom, Weight Watchers, Sleep Number, Palm Beach Tan, and more. Directly across from the site is another large retail center, occupied by Kohl’s, Super Target, Bed Bath & Beyond, and Ross. The property benefits from its location between two major shopping centers: Cumming Marketplace, which is directly south of the property, and Cumming Town Center, which is directly north. Cumming Marketplace, a 100% leased, 695,314 square foot shopping center, is anchored by Lowe’s, Walmart Supercenter, and Home Depot and tenanted by Office Max, Michaels, Party City, PetSmart, and others. Cumming Town Center, a 100% leased, 311,396 square foot retail center, features Best Buy, Dick’s Sporting Goods, T.J. Maxx and Home Goods, Ashley Furniture, and others.

The site is also close to medical centers, recreational areas, and new developments. The 231-bed Northside Hospital-Forsyth is a mile from the property. The hospital is among the very best maternity and newborn hospitals in the country and has 2,400 physicians, 2,600 employees, and 317,000 patient visits per year. Lake Lanier, a 37,000-acre man-made lake, is approximately a mile and a half from the property and is visited by over 7.5 million people per year. Ryland Homes at Marketplace Commons, a premier, new swim-and-tennis housing development, is directly behind the Market Village shopping center, and features 131 single family homes.

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