Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 2010
Lease Type NN
Lease Expiration 2029-03-31
Remaining Term 8 years, 5 months
Tenant Academy, Limited
Building Area
Land Area

Property Description

JLL is pleased to exclusively offer the opportunity to acquire a single-tenant property corporately leased to Academy Sports (the “Property”) in McDonough, Georgia, a suburb of Atlanta. Academy Sports commenced its lease in April 2011 and now has more than 8 years of remaining lease term. This NN lease features an upcoming $0.50/SF rental increase in 2021 and at the beginning of each of the six (6), five (5) year options to renew. 


Investment Highlights

  • Attractive, NN (limited Landlord responsibilities) Academy Sports lease with more than 8 years of term remaining and six (6), 5-year options to renew. Rent increases $0.50/SF in 2021 and at the beginning of every option period. Corporately leased by Academy Sports, Ltd. – a wholly owned subsidiary of KKR. 
  • KKR & Co. recently announced that Academy Sports has confidentially filed for an initial public offering that could happen before year end 2020, which could dramatically enhance the value of the company.
  • Situated on McDonough Hampton Road, a major retail artery that is home to multiple, nationally recognized tenants and carries nearly 26,000 VPD. McDonough Hampton Road intersects with I-75 (less than 1 mile away), which serves over 120,000 VPD.
  • Ranked the 2nd highest trafficked apparel store within a 15-mile radius and placed within the 98th percentile of all apparel stores in Georgia based on number of customer visits (Placer A.I.)
  • Proximate to attractive, nationally recognized tenants including Kohl’s, T.J. Maxx, Kirkland’s, Hobby Lobby, and Five Below. Also adjacent to a recently delivered Dave & Buster’s arcade. Less than 2.5 miles away from Atlanta’s distribution hub comprised of more than 75 industrial buildings totaling more than 44 million SF.
  • Located center to a 5-mile trade area with a population of nearly 75,000 residents. Multiple residential developments have hit the pipeline to keep up with McDonough’s housing demand due to its 151% population increase since 2000 and 10.7% projected growth from 2020 to 2025. 
  • McDonough is part of the overall Atlanta MSA, the 9th largest metropolitan area in the United States home to over 6 million people. McDonough benefits from Atlanta’s economic coattails as the area is home to over 14 Fortune 500 companies and was voted the No. 2 Areas for Business Climates by Business Facilities.


Last Updated Date: 28 Sep 2020
Michael Brewster
Michael Brewster
Director, Capital Markets
License details
FL-SL3280018
Steve Schrenk
Steve Schrenk
Director, Capital Markets
License details
NJ-1433421

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Last Updated Date: 28 Sep 2020

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