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.

Key Facts

Lease Type NN
Lease Expiration 2032-04-30
Remaining Term 11 years, 6 months
Tenant Academy, Limited
Building Area
Land Area

Property Description

JLL is pleased to exclusively offer the opportunity to acquire the fee-simple interest of a property that is corporately leased to Academy Sports (the “Property”) in Cartersville, Georgia, a suburb of Atlanta. Academy Sports commenced its lease in April 2014 and now has more than 11 years of remaining lease term with three (3), five (5) year options to renew. This NN lease features $0.50/SF rental increases every renewal option.

Investment Highlights

  • Attractive, NN Academy Sports lease with more than 11 years of remaining term with three (3), 5-year renewal options. $0.50/SF rent increase in every option period. Corporately leased by Academy Sports, Ltd.–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 East Main Street, Cartersville’s main retail artery that is home to multiple shopping centers with nationally recognized tenants, carries nearly 20,000 VPD, and serves a 1-mile trade area population of approximately 5,000 people.
  • Easily accessible due to its close proximity to I-75 (93,900 VPD) and Joe Franklin Parkway (22,000 VPD), both traveling through Cartersville south to Downtown Atlanta, 40 miles away.
  • Located within Cartersville Crossing, a corner-accessible shopping center anchored by the Subject Property, Dollar Tree, Rent-A-Center, and Party City. Cartersville Crossing is directly across the street from a Target- and Publix-anchored center.
  • Less than 1 mile from Downtown Cartersville, the city’s economic hub boasting a collection of restaurants, bars, boutique shops and service establishments. Downtown Cartersville feeds into the Historic Cartersville neighborhood, a 1,400-household residential community representing an average household income of $77,000.
  • Cartersville is part of the overall Atlanta MSA, the 9th largest metropolitan area in the U.S. home to over 6 million people. Cartersville benefits from Atlanta’s economic coattails being home to 14 Fortune 500 companies and voted the No.2 Metro Area for Business Climates by Business Facilities.
Last Updated Date: 18 Sep 2020
Marc Mandel
Marc Mandel
Managing Director, Capital Markets
License details
PA - AB068236 DE - RS-0019936 NJ - 0894218
Steve Schrenk
Steve Schrenk
Director, Capital Markets
License details
NJ-1433421

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Last Updated Date: 18 Sep 2020

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