at&t/aspen dental nnn retail property - capital pacific trophy, two tenant retail property at...
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trophy, two tenant retail property at preeminent retail crossroads location in Atlanta MSA [ www.CapitalPacific.com ]
AT&T/Aspen Dental nnn retail property
1447 North Expsy, Griffin, GA 30223
New construction property expected to open april 2016
[ actual store ]
OPENING 5/5/16
OPENING 4/22/16
RENtAblE SF . . . . . . . . . . . . . . . 6,060 SF
PRiCE PER SF . . . . . . . . . . . . . . . $455.45
lANd AREA . . . . . . . . . . . . . . . 32,670 SF
YEAR bUilt . . . . . . . . . . . . . . . 2016
oCCUPANCY . . . . . . . . . . . . . . . 100%
ExPECtEd oPENiNG . . . . . . . . 2016
PRICE: $2,760,000CAP: 6.35%
Listing TeamContact Info
Dave [email protected] | (415) 274-7390CA BRE# 01389761
Joe caccamo [email protected] | (415) 274-7394CA BRE# 01191110
In conjunction with GA Licensed Broker:Steve Miller, Miller Realty Services, [email protected] | (770) 409-0266
PROperty Summary
PREmIER AT&T-AsPEn DEnTAl AssET In A gRowIng bEDRoom CommunITy of ATlAnTA, gA. ThE subjECT PRoPERTy Is loCATED In A RETAIl DEnsE AREA wITh fAnTAsTIC TRAffIC CounTs & sTRong RETAIl synERgy.
Capital Pacific collaborates. Click Here to meet the rest of our San Francisco team.
[ actual store ]ASPEN DENtAL - At&t | 2
pad to a walmart anchored shopping center
core characteristics
bedroom community of atlanta Griffin is a bedroom community of Atlanta, located just 35 miles south of the city.
national corporate tenants with new leasesAt&t and Aspen Dental are both operating on brand new 10 year leases with rental increases. Aspen Dental is a corporate store and At&t is a corporate Spring Mobile store.
outstanding retail market Pad to a Walmart and across the street from Hobby Lobby and Walgreens. Other tenants at the intersection include Wendy’s, McDonald’s, Bealls Outlet, Chick-fil-A, Shell and Walgreens.
strategic commuter locationIdeally situated on a key commuter corridor, Interstate 41, that connects Griffin to Atlanta.
high traffic counts Highway 41 has average daily traffic counts of 34,950 and tower Street has average daily traffic counts of 9,790.
new construction buildingthe subject property was completely re-built in 2016 and features attractive building finishes with a contemporary design.
excellent Visibilitythe subject property has excellent visibility from Highway 41 and out-positions some of the other top tier retailers in the center including Chick-fil-A.
pad to walmart anchored centerthe subject property is a pad to a Walmart anchored shopping center. Other tenants in the center include Chick-fil-A, Wendy’s, Payless Shoes, Great Clips, IHOP and Verizon.
ASPEN DENtAL - At&t | 3
Mci
ntos
h Ro
ad
Martin luther King Jr. Parkway
92
41
GRIFFIN CROSSROADS
NORTH GRIFFIN SQUARE SHOPPING CENTER
SPALDING VILLAGE
®
ATLANTA
41
aerial NEIGHbORING TENANTS INCLUDE WALGREENS, HObby LObby, WALmART AND DOLLAR TREE.
34,950 DAILymartin Luther King Jr. Prkwy
9,790
DAILy
ASPEN DENtAL - At&t | 4
income & expense
Price: $2,760,000
Capitalization Rate: 6.35%
Price Per Square Foot: $455.45
Total Rentable Area (SF): 100.00% 6,060
Land Area (AC): 1.05
INCOMEINCOMEINCOMEINCOME Per Square FootPer Square FootPer Square FootPer Square FootScheduled Rent* $29.00 $175,740
Effective Gross Income $29.00 $175,740
EXPENSEEXPENSEEXPENSEEXPENSEUtility Expenses NNN
Insurance NNN
Property Taxes NNN
Structural Reserves ($0.10) ($606)
TOTAL OPERATING EXPENSESTOTAL OPERATING EXPENSESTOTAL OPERATING EXPENSESTOTAL OPERATING EXPENSES ($0.10)($0.10)($0.10)($0.10) ($606)($606)($606)($606)
NET OPERATING INCOMENET OPERATING INCOMENET OPERATING INCOMENET OPERATING INCOME $175,134$175,134$175,134$175,134
Current Current Current Current
Landlord is responsible for roof, structure and parking lot replacement. Building and parking lot are new 2016
construction. Roof has 10 year warranty.
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the infor-mation. Buyer must verify the information and bears all risk for any inaccuracies.
ASPEN DENtAL - At&t | 5
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
rent roll
Tenant Sq. Ft. Monthly RentAnnual
Rent Yearly Rent/FT
AT&T 2,460
Spring Communications Holding, Inc. Current $5,945 $71,340 $29.00
Increase $6,150 $73,800 $30.00
Increase $6,355 $76,260 $31.00
Increase $6,560 $78,720 $32.00
Increase $6,765 $81,180 $33.00
Option 1 - 5yr Option $6,970 $83,640 $34.00
$7,175 $86,100 $35.00
$7,380 $88,560 $36.00
Option 2 - 5yr Option $7,380 $88,560 $36.00
$7,585 $91,020 $37.00
$7,790 $93,480 $38.00
Option 3 - 5yr Option $7,946 $95,350 $38.76
$8,105 $97,257 $39.54
$8,267 $99,202 $40.33
$8,432 $101,186 $41.13
$8,601 $103,209 $41.96
Option 4 -5 yr Option $8,773 $105,274 $42.79
$8,948 $107,379 $43.65
$9,127 $109,527 $44.52
$9,310 $111,717 $45.41
$9,496 $113,951.64 $46.32
Aspen Dental 3,600
Aspen Dental Management, Inc. Current $8,700 $104,400 $29.00
Increase $9,570 $114,840 $31.90
Option 1 $10,527 $126,324 $35.09
Option 2 $11,580 $138,960 $38.60
Current Totals: 6,060 $14,645 $175,740 $29.00
Years 16 - 20
Year 30
10 Year Term
Years 1 - 5
Years 6 - 10
Years 11 - 15
10 Year Term
Year 26
Year 27
Year 28
Year 29
Year 21
Year 22
Year 23
Year 24
Year 25
LEASE TERMS RENT SUMMARY
Term
TENANT INFO
Years 1 - 2
Years 3 - 4
Years 5 - 6
Years 17 - 18
Years 7 - 8
Years 9 - 10
Years 11 - 12
Years 13 - 14
Year 15
Year 16
Year 19 - 20
ASPEN DENtAL - At&t | 6
Martin luther King Jr. Parkway
lakeside drive
41
92
PANdAbEAR GRANd bUFFEt
site plan
34,950 dAilY
9,79
0 d
Ail
Y
This site plan is a rendering that has been created based on sources we believe to be reliable, however we make no representations or warranties, expressed or implied, as to the accuracy of the rendering. Buyer must verify the information and bears all risk for any inaccuracies.
ASPEN DENtAL - At&t | 7
SitE PlAN KEY
PARCEL OutLINE:
LAND AREA: 32,670 SF
BuILDING AREA: 6,060 SF
INGRESS/EGRESS:
site plan
34,9
50 d
Ail
Y
This site plan is a rendering that has been created based on sources we believe to be reliable, however we make no representations or warranties, expressed or implied, as to the accuracy of the rendering. Buyer must verify the information and bears all risk for any inaccuracies.
Mar
tin l
uthe
r Kin
g Jr
. Par
kway
41
SiGN
NOT A PART
ENtRANCE FoR
ASPEN DENtAL - At&t | 8
Aspen Dental Management Inc. provides non-clinical business support services to independently owned and operated dental practices in approximately 33 states. this includes finding the right location, payroll and benefits, equipment, accounting and marketing. Aspen Dental has more then 500 locations and, in 2015 alone, Aspen Dental-branded practices recorded nearly 3.7 million patient visits and welcomed nearly 785,000 new patients.
At&t Inc. (NYSE: “t”) is the nation’s leading provider of wireline voice communications services, with 243,620 employees. It is also a top provider of IPvoice and digital video services. For the fiscal year ending December 2015, At&t Inc. reported revenue of $146.8 billion and net income of $13.3 billion. It has an S & P rating of “BBB+” and is #12 on the Fortune 500.
About lease Guarantor: Spring Communications Holding, inc. Spring Mobile is America’s largest wireless retailer, with over 907 At&t retail locations and 69 Cricket Wireless locations nationwide.
GRoSS REVENUE$146.8 billion
NEt iNCoME $13.3 billion
tenants
ASPEN DENtAL - At&t | 9
2015 HOUSEHOLD INCOmES
POPULATION
TOP EmPLOyERS IN GRIFFIN, GA
demographics & regional map
GRIFFIN
1-mile 3-mile 5-mile
2010 5,368 26,365 44,7992015 5,324 25,884 44,7292020 5,362 25,918 46,196
1-mile 3-mile 5-mile
Average $42,545 $39,528 $47,874
Employer # of Employees*Caterpillar, Inc. 900CareMaster Medical 600Norcom 280AEP Industries, Inc. 250*Approximate
34,9
50 D
AIL
y
AtLANtA
43 MIN35 MILES
ASPEN DENtAL - At&t | 10
AboUt GRiFFiN, GA
Griffin is the seat of Spalding County and a member of the Atlanta metropolitan area. As of the 2015 census, the city had a population of 23,643.
Strategically located between Atlanta and Macon, Griffin has much to offer new or relocating businesses, such as an available and affordable workforce with uGA-Griffin Campus and Griffin technical College located within city limits. there are also over 900 acres of business and industrial parks, a strong school system, solid utility infrastructure and a low cost of doing business.
Atlanta is home to 27 fortune 500 Companies
location
AboUt AtlANtA. GAWith nearly 450,000 residents, Atlanta is the capitol of and most populous city in Georgia as well as the 9th largest metropolitan area within the united States. Atlanta also is the primary transportation hub of the Southeastern u.S., via highway, railroad and air, with the Hartsfield–Jackson Atlanta International Airport being the world’s busiest airport since 1998.
Encompassing $304 billion, the Atlanta metropolitan area is the eighth-largest economy in the country and 17th largest in the world. Corporate operations are responsible for a large portion of Atlanta’s economy as many corporate headquarters are located in Atlanta and it is home to the third largest concentration of Fortune 500 companies.
Georgia State university is located in Downtown Atlanta, It is the largest of the 29 public colleges and universities in the university System of Georgia and a major contributor to the revitalization of the city’s central business district. Atlanta is also home to nationally renowned private colleges and universities, most notably Emory university, a leading liberal arts and research institution that ranks among the top 20 schools in the united States and operates Emory Healthcare, the largest health care system in Georgia.
[ Atlanta, ga ]
ASPEN DENtAL - At&t | 11
ExCELLENT VISIbILITy AND SIGNAGE
ON HIGWAy 41 / mARTIN LUTHER
KING JR. PARKWAy
photos
[ actual store ]
ASPEN DENtAL - At&t | 12
SUbJECT PROPERTy IS A PAD TO
A WALmART ANCHORED
SHOPPING CENTER
photos
[ actual store ]ASPEN DENtAL - At&t | 13
A unique HUMANRESULTS-DRIVEN client experience
tHE CAPitAl PACiFiC ExPERiENCE - oUR dAilY CoMMitMENt to oUR CliENtS
[ www.CapitalPacific.com ]
JoE [email protected] | (415) 274-7394 CA BRE# 01191110
dAVE [email protected] | (415) 274-7390 CA BRE# 01389761
[ Copyright © 2016 Capital Pacific ]
CHRiS KoStANECKi
CHRiS PEtERS
zANdY SMitH
JACK NAVARRA
zEb RiPPlE
JoHN ANdREiNi
GREGG StEElE
KARlA zENS
Capital Pacific collaborates. Click Here to meet the rest of our San Francisco team.
In conjunction with GA Licensed Broker:Steve Miller, Miller Realty Services, Inc. | [email protected] | (770) 409-0266
[ actual store ]