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Multi-Tenant Center, Bremen, GA

Multi-Tenant Center

GA, USA

Price $2,400,000
Cap Rate
NOI
Lease Term Various
Lease Type Net
Rental Increases Various
Year Built 2020
Building Size 4,600 SF
Lot Size 1.45 Acres (63,162 SF)
Status Sold
Lead Broker Information Vincent Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Director
415.413.3005
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

Scott Crowle
Executive Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

LONG-TERM NET LEASES TO STRONG TENANTS
» 100% leased retail center in high-growth market
» Scheduled rental increases in primary terms and option periods, providing a hedge against inflation
» Excellent mix of nationally recognized retailers that offer investment diversification

MAJOR NATIONAL TENANTS WITH STRONG PROJECTED GROWTH AND FINANCIALS
» Dunkin’ (NASDAQ: “DNKN”) is the world’s leading baked goods and coffee chain, serving more than 3 million customers per day
» AT&T (NYSE: “T”) is ranked ninth in the Fortune 500 rankings
» Jersey Mike’s generated $1.1 billion in 2018 revenue

HIGH-TRAFIFIC LOCATION IN POPULATED AND GROWING AREA
» Located along Alabama Avenue (9,090 AADT), just off of U.S. Route 27/Bremen Bypass (14,300 AADT), a major north-south thoroughfare connecting Florida and Indianapolis
» 148,505 residents live within 15 miles of the location, establishing regular local traffic to the property
» Projected 14 percent AHI increase within five miles of the site in the next five years, poising Bremen for significant growth
» Convenient access to Interstate 20 (40,200 AADT) and U.S. Highway 78 (9,260 AADT)
» 20-minute drive from the Georgia-Alabama State Line, increasing commuter visibility to the location

CENTRAL LOCATION NEAR LARGE SCHOOLS, RETAILERS, AND COMMUNITY HUBS
» Location is suited to service the Bremen City School District (combined four schools, 2,284 students), increasing breakfast and lunch-time traffic to the property
» Within walking distance of five hotels, including Hampton Inn Bremen and Holiday Inn Express & Suites Bremen (combined 117 rooms), increasing foot and commuter traffic to the site
» Surrounded by a strong mix of national retailers including Chick-fil-A (coming soon), McDonald’s, Wendy’s, Cracker Barrel Old Country Store, Taco Bell, Subway, KFC, and many more
» Gateway to Atlanta, the ninth largest metropolitan area in the U.S.
» Centrally located between Talladega National Forest, Oconee National Forest, and Chattahoochee National Forest, attracting significant amounts of outdoor enthusiasts to the immediate area


Property Description

SOLD

The property is conveniently located on Alabama Avenue (9,090 AADT), just off of U.S. Route 27/Bremen Bypass (14,300 AADT), a major north-south thoroughfare connecting Florida and Indianapolis. The property also maintains convenient access to Interstate 20 (40,200 AADT) and U.S. Highway 78 (9,260 AADT). The location resides in a densely populated area with robust demographics, with a population of 148,505 within a 15-mile radius of the location. Traffic to the site is increased by its location within a 20-minute drive of the Georgia-Alabama State Line, increasing commuter visibility to the location. The property is primed to grow along with the surrounding area, with a projected 14 percent average annual household income increase within five miles of the site in the next five years.

The site is surrounded by a strong mix of national and local retailers, including McDonald’s, Wendy’s, Cracker Barrel Old Country Store, Taco Bell, Subway, KFC, and many more. The location is perfectly situated to service the Bremen City School District, which features a combined four schools and 2,284 students, increasing lunch-time traffic to the property. The city of Bremen is a highly trafficked gateway to Atlanta (the ninth largest metropolitan area in the U.S.), and is centrally located between Talladega National Forest, Oconee National Forest, and Chattahoochee National Forest, attracting significant amounts of outdoor enthusiasts to the immediate area. The property also benefits from being within walking distance of five hotels, including Hampton Inn Bremen and Holiday Inn Express & Suites Bremen (combined 117 rooms), increasing foot traffic and commuter traffic to the site.

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