Washington Street Commons

Washington Street Commons

250 John W. Morrow Parkway
Gainesville, GA

Price: $5,540,000
Cap: 8.50%
NOI: $471,431
Building Size: 73,618
Lot Size: 7.55 AC

Investment Highlights

WASHINGTON STREET COMMONS SUMMARY
• Washington Street Commons is a 73,618 SF shopping center anchored by Bargain Hunt and located in Gainesville (Atlanta MSA), GA
• The property is 100% leased by regional and national tenants including Bargain Hunt, World Finance, Covington Credit, Onin Staffing, SalonCentric, & Republic Finance
• Strong leasing momentum | 3 new leases & 5 renewals in 2019
• Priced below replacement cost $75/SF
• Below market rents | Average rent $8/SF

STRATEGIC LOCATION
• The center boasts strong real estate fundamentals as it sits at the hard corner of a high-traffic signalized intersection on John W Morrow JR Parkway (21,800 VPD)
• Washington Street Commons is positioned in the heart of the main retail corridor of Gainesville with over 3 million square feet of retail in a 1 mile radius
• Surrounding retailers include: Walmart, Target, Publix, Aldi, Home Depot, Lowe’s, Hobby Lobby, Marshall’s, Best Buy, Burlington, Homegoods, Five Below, JC Penny, Belk, Sally Beauty, and many more
• Located near Lake Lanier, Atlanta’s premier lake destination with over 12 million visitors annually

GAINESVILLE, GA MSA
• The City of Gainesville is an affluent and growing northeast suburb of Atlanta and sits as the heart of the Gainesville MSA (Population 196,637) and is the County Seat of Hall County
• In addition to being a bedroom community for Atlanta, GA it is also the “Poultry Capital of the World” due to the amount of poultry plants located within the city

Zach Taylor
OFFERING MEMORANDUM

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