ALDI Anchored Center

ALDI Anchored Center

1500 Decatur Pike
Athens, TN

Price: $7,450,000
Cap: 7.00%
NOI: $521,498
Building Size: 111,142 SF
Lot Size: 11.18 AC

Investment Highlights

GROCERY ANCHORED RETAIL OFFERING
• The property is a 111,142 SF ALDI anchored retail center located in the Chattanooga MSA
• ALDI just executed a new 10-Year lease through 2032
• Priced below replacement cost | $67.03 PSF
• Average Tenant Tenure | 18+ Years
• Immense Upside Opportunity

ALDI | FASTEST GROWING GROCERY CHAIN IN THE U.S.
• There are 7,000+ ALDI locations worldwide and over 2,100 across 36 states the U.S.
• ALDI had $116.06 Billion in revenue in 2021
• ALDI has been one of America’s favorite grocery retailers and for the eighth consecutive year, the Value Leader for grocery shoppers.
• ALDI was named “2018 Retailer of the Year” by Supermarket News
• In June 2017, ALDI announced a new $3.4 billion capital investment plan to expand to 2,500 US stores by the end of 2 022 and plans to become the 3rd largest grocer in the US

HISTORY OF STRONG PERFORMANCE
• This shopping center has been a well-known retailer for the Athens community since 1973 and has a long standing history of tenant performance
• Average Tenant Tenure | 18+ Years
• Leasing Momentum | 2 New Leases & 7 Renewals since 2020

IMMENSE UPSIDE OPPORTUNITY
• This property is priced well below replacement cost at $67.03/SF
• Average Rent | $5.44 PSF
• Belk (48.59% of GLA) has been a tenant since August of 1992 and has renewed the lease 6 times, most recently in 2017 with 2 years remaining on that extension
• Belk Pays $3.36/SF in rent, presenting an immense upside opportunity to an investor in this space

CHATTANOOGA MSA
• Athens, TN is located 50 miles NE of Chattanooga off interstate 75 (42,449 VPD) and is part of the Chattanooga MSA (547,776+).
• Chattanooga is the fourth largest city in Tennessee with a population of over 170,000 people.
• Chattanooga is one of the South’s top travel destinations, with the New York Times naming Chattanooga one of the “Top 45 Places to Go.”
• 3 million tourists visit Chattanooga annually and contribute $1.16 Billion to the economy.
• Major industries that drive the economy include automotive, advanced manufacturing, food and beverage production, healthcare, insurance, tourism, and corporate headquarters.

Zach Taylor
OFFERING MEMORANDUM

Email not recognized.
In lieu of a confidentiality agreement, we request that you complete the following form in order to download an Offering Memorandum or try again.







Principal or Broker?