Peachtree Pavillion

SOLD

Property Overview

Peachtree is a 18,550-square-foot unanchored retail shopping center built in 2007. The plaza is located on the going-home side of Peachtree Industrial Boulevard in the Peachtree Corners area of metro Atlanta in close proximity to Atlanta’s Technology Park, the residential areas of Peachtree Corners, Norcross, and Berkeley Lake in Gwinnett County. Peachtree Industrial Boulevard is a primary artery that leads to affluent areas of North Atlanta. Peachtree Corners Pavilion’s tenancy is strong, with primarily national and regional tenants; three out of four of the current tenants have been on-site for 8+ years. The shopping center is “shadow-anchored” by a Kauffman Tire, which operates 55 retail stores in Georgia and Florida as well as fourteen wholesale distribution centers in seven states. By leasing the property to a stabilized 90% occupancy level, our investors can expect to achieve a leveraged IRR in excess of 27%.

Tenants

Avis

Shane's Rib Shack

Demographics

Population Density: 92,464

Household Income: $78,839

VPD: 43,320

Highlights

Strong Tenant Mix/Healthy Tenant Retention

The tenancy, a solid blend of national, regional and local tenants, includes Avis Rent A Car, Select Staffing (400 locations), and Shane’s Rib Shack (70+ locations, majority in Atlanta MSA; guarantor operates 15 locations). Three of the four tenants have been on-site since 2007, while TapOut Fitness opened in 2015.

Prime Going-Home Location along High Traffic Route

The plaza is positioned along Peachtree Industrial Blvd. (43,320vpd) just north of GA Hwy 141. Peachtree Industrial Blvd. is a major Gwinnett County artery that originates at Peachtree Road in Buckhead. The shopping center benefits from two access points including a shared curb cut with Kauffman Tire.

Expansive Daytime Population

Within a 3-mile radius there are more than 15 hotels, 10 million square feet of office, and more than 30 million square feet of industrial, headlined by Atlanta’s Technology Park, located on 500 acres and containing more than 7,000 tenants. Other prime office parks in close proximity along Peachtree Industrial Blvd. include Northwoods Atlanta, Peachtree Technology Center and Peachtree Pointe Office Park. Overall there are 68,000 employees working in the same corridor.

High Occupancy Submarket

For comparable properties the overall occupancy level exceeds 96%. The majority of GLA in the corridor is 98% occupied. Peachtree Square, a neighboring 350,000-square-foot center, is anchored by Target, Publix, Dick’s, PetsMart, Office Depot and TJ Maxx. Additionally, the 96% occupied, 82,000sf Market Place Shopping Center includes a 30,000sf BIG Cinema currently under construction.

Excellent Visibility and Quality Curb Appeal

The plaza is located at grade level and is easily visible from Peachtree Industrial Blvd. A large monument sign with room for additional tenants enhances its appeal.

Premium Demographics

The shopping center draws from a densely- populated, high income residential base. Within a 3-mile radius are 92,464 persons with a $78,839 Avg. HH Income. Annual Consumer spending within that radius exceeds $775M.

Atlantic

Coast