FEATURED LISTING

Lowe's Home Improvement 
10580 Duke Drive, Alpharetta, Georgia

CBRE has been exclusively retained by the owner to market a portfolio offering of four (4) single-tenant net-leased Lowe’s Home Improvement properties well-located within the Atlanta, Georgia MSA.

 

THE SELLER WILL CONSIDER BOTH PORTFOLIO AND INDIVIDUAL OFFERS

 

 

ALPHARETTA INVESTMENT SUMMARY

 

List Price:

$23,039,980
NOI:

$1,324,799

Total Building Area:

129,044 SF

Total Land Area:

16.49 Acres 

Year Opened:

1998

 

ALPHARETTA INVESTMENT HIGHLIGHTS
  • High-traffic location: Ideally positioned with excellent access to and visibility on Mansell Road (Traffic Count: 39,892 VPD) and immediate proximity to Georgia Highway 400 (Traffic Count: 151,504 VPD)
  • Dominant retail corridor: Home to the 1.34 million square foot North Point Mall and the 2.4 million square foot mixed use Avalon development (opened in 2014) with 23 million square feet of office space, 12 million square feet of retail space and 13 million square feet of industrial space within a 3-mile radius of the property.
  • Affluent market: Named as the #1 Place to Move by Forbes in 2009, Alpharetta is known for its affluence, high-end residential communities and high-powered employment center with median household incomes at $91,991 and 23.75% of households having incomes above $150,000
  • Affluent demographics: 5-mile population is 190,633 with Average Household Income of $109,867

 

PORTFOLIO SUMMARY

 

Each of the following properties within the portfolio is encumbered by long-term leases that were recently extended to 10-years with 6, 5-year options to extend:

        • 10580 Duke Drive, Alpharetta, Georgia
        • 2650 Dallas Highway, Marietta, Georgia
        • 4855 Stone Mountain Highway, Lilburn, Georgia
        • 575 Molly Lane, Woodstock, Georgia

 

PORTFOLIO INVESTMENT HIGHLIGHTS

  • High-quality credit tenant: A top home improvement and hardware store chain in the US, Lowe’s Companies, Inc. (NYSE: LOW, S&P: A-) operates 1,836 stores in the US with reported revenue of $53.4 billion and a Market Capitalization of ±$71.5 billion
  • Long-term historical occupancy with recent lease extensions: Lowe’s Home Improvement has occupied these sites since the mid-to-late 1990’s and recently extended its leases at each location to ten (10) years expiring in February 2025 with options to extend thereafter
  • Limited landlord responsibilities: Single tenancy, net lease structure, tenant parking lot maintenance responsibility, and credits for new roofs with 20-year warranties limit any near-term landlord responsibilities
  • Geographic concentration: All of the properties are located in major retail corridors of the Atlanta MSA, the “capital of the southeastern US” with more than 5.5 million people. The geographic concentration of these assets ease management and maintenance responsibilities for portfolio buyers
  • Terms: Available individually or as a portfolio. Buyers can purchase all-cash, assume the existing financing, or purchase with new financing at historically low interest rates - call for details


FOR MORE
INFORMATION
PLEASE CONTACT:


NRIG-West

 

John Read
+1 949 725 8606
Lic. 01359444
john.read@cbre.com

 

 

James Slusher
+1 949 725 8507
Lic. 01857569
james.slusher@cbre.com

 

 

Philip D. Voorhees
+1 949 725 8521
Lic. 01252096
phil.voorhees@cbre.com

 

NLPG-Atlanta

 

Chris Bosworth
+1 404 923 1486
Lic. 248342
chris.bosworth@cbre.com

 

 

 

Will Pike
+1 404 923 1381
Lic. 276560
will.pike@cbre.com

 

 

 

Brian Pfohl 
+1 404 504 7893
Lic. 349355
brian.pfohl@cbre.com

 

 
toward a greener tommorrow
 
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