Conyers Square

Conyers Square

1745 GA-138 SE
Conyers, GA

Price: $12,980,000
Cap: 6.75%
NOI: $875,740
Building Size: 90,128 SF
Lot Size: 11.03 AC

Investment Highlights

KROGER ANCHORED CENTER
• The subject is a 90,218 SF Kroger Anchored Retail Center located in the Atlanta MSA.
• Kroger recently affirmed its long-term strategy and success at this location by executing a brand new 15-Year extension
• Kroger boasts a healthy base rent-to-sales ratio of 1.47% | They have also indicated sales are up 20% in 2020
• Kroger’s income stream is 56.3% of the total gross revenue
• Replaceable shop rents
• The center has boasted a great amount of leasing momentum

STRATEGIC LOCATION
• The property lies in the high traffic corridor of GA-138 (43,000 VPD) & off of I-20 (116,000 VPD), the highway that connects Conyers to Atlanta
• Situated in intercept position on “Going Home” Side of the Road for all Atlanta Commuters living south of I-20
• In the heart of Conyers retail corridor with 1.3M SF of retail in a 1-Mile Radius with limited Grocery Competition
• The real estate is fundamentally sound sitting at a signalized intersection with frontage visibility and 5 points of ingress/egress

CONYERS GA (ATLANTA MSA)
• Conyers is an Atlanta Suburb and the only city in Rockdale County, GA
• The largest industries in Conyers are Health Care & Social Assistance (892 employees), Retail Trade (813 employees), and Manufacturing (764 employees)
• Conyers is known as “The Biggest Little Filming Community in Georgia” and includes two of its major employers as 20th Century Fox & Warner Bros Pictures
• The immediate area of Conyers has undergone explosive growth which such as the Eastmore Community Development (2.5mi from Subject) which is to include 300,000 SF of retail space, 220,000 SF of office space, 1,400 residential units, and a 9-story hotel.
• Other developments and recent news include
• Twin Creek Business Park recently leasing 75,000 SF to a new prospect that will bring 100+ jobs to the area and an investment in this space estimated at 5M
• Rockdale Technology Center recently signed an agreement for 315,000 SF logistic center, adding 60 jobs to the area (originally built in 2019)
• Great Southern Wood recently announced they will begin a 25M expansion in Rockdale County, adding 35 jobs to the area
• 2019 was a record year in Rockdale County for delivered new construction of advanced manufacturing/industrial/logistic space but 2020 is expected to break that record
• New projects, such as the 450,000 SF Ashely Capital Logistic Center, are expected to bring in over 2M in new tax revenue

Zach Taylor

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