Promenade at Jones Bridge

Promenade at Jones Bridge

9945 Jones Bridge Road
Alpharetta, GA

Price: $8,900,000
Cap: 6.65%
NOI: $590,984
Building Size: 38,312 SF
Lot Size: 6.95 AC

Investment Highlights

NORTH ATLANTA NEIGHBORHOOD SHOPPING CENTER
• The subject property is a 38,312 unanchored retail offering located in a dense and affluent suburb of North Atlanta
• Promenade at Jones Bridge is 95% leased and includes a unique mix of restaurant, service, & gym tenants servicing the local area
• The current mix of tenants is reflective of necessary and E-Commerce resistant uses that service a dense and affluent suburban area
• The property has been a staple of the local community and has boasted consistent occupancy levels over its history with a steady rise in rents overtime

LEASING MOMENTUM | UPSIDE IN RENT GROWTH
• Leasing Momentum | 6 New Leases & 3 Renewals since 2020
• Promenade at Jones bridge boasts rental rates that are well below market presents immense upside to an investor in rental growth
• Average Rent of leases executed before 2021: $14.53
• Average Rent of leases executed after 2021: $18.11
• Review page 15 of the offering memorandum to view asking rents of competitive properties

STRATEGIC LOCATION
• Promenade at Jones bridge is located on the high traffic corridor of Jones Bridge Road (22,900 VPD)
• Fundamentally Sound Real Estate | Signalized Intersection, excellent visibility & frontage to Jones Bridge Road, 3 points of ingress/egress with turning lanes at each point, & non-median bound
• Limited Retail Competition | The property is a neighborhood shopping center positioned in a dense suburban pocket with limited competition in the surrounding area

PREMIER SUBURB OF ATLANTA
• The property is in Alpharetta, GA, a vibrant Southern city with an exceptional quality of life. It is widely known as one of Atlanta’s most affluent and desired suburbs.
• Alpharetta has been an epicenter of redevelopment and features many “destination entertainment” spots such as Downtown Alpharetta with over 50 shops, restaurants, and hotels.
• The asset is located four miles from the Avalon, an 86-acre recent development in the heart of Alpharetta that features 500,000 square feet of retail, a 12-screen all premium theater, conference center and full-service hotel, Class A office, single-family residences, and luxury rental homes.
• Avalon infuses resort-level hospitality throughout a walkable, seamlessly connected community of shopping, dining, entertainment, living and working.
• Trademark Property Co. is planning to redevelop the 44-acre North Point Mall site (located 4 miles from subject property) into a mixed-use development that will feature 36 townhomes, 650 multifamily residential units, a 150 -room hotel, 330,000 SF of office space, 30,000 SF of medical space, 211,300 SF of Retail, & 86,150 SF of restaurants.

 

Zach Taylor
Eric Abbott
OFFERING MEMORANDUM

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