This property is Off-Market

4560 South Cobb Drive
Smyrna, GA 30082 ·

2,464 SF · Retail For Sale

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Krispy Kreme | NNN Ground Lease | Atlanta MSA

Price N/A Cap Rate 5%
Building Size 2,464 SF Occupancy 100%
Property Type Retail Tenancy Single
Property Sub-type Free Standing Bldg Year Built 2013
Property Use Type Net Lease Investment with 10+ years left on lease Lot Size 0.77 AC
Construction Status Under Construction/Proposed
Listing ID: 18480913 Date Created: 12/11/2013 Last Updated: 03/11/2014

Description

The CBRE Net Lease Property Group is pleased to exclusively offer a 2,464-square-foot Krispy Kreme Ground Lease situated on 0.77 acres in Smyrna (Atlanta MSA), Georgia. The City of Smyrna (Population: 52,650), located approximately 10 miles northwest of Atlanta, is one of the most popular suburban communities in the metro-Atlanta area due to its high quality of life, access to amenities and location proximate to three major highway systems: I-75, I-20, and I-285. The property is ideally situated on South Cobb Drive (Traffic Count: 35,753), just south of its intersection with East-West Connector/Cumberland Parkway; which serve as two of the area' s preeminent arteries. The subject is currently under construction and Krispy Kreme will commence rental payments on a new 20-year, absolute NNN ground lease upon opening for business (Estimated: January 2014). The property is an outparcel to the proposed Old Ivy Village Shopping Center (46,488 square feet of planned retail) and immediately surrounded by other occupied out pads including Jim N' Nick' s Bar-B-Q and Del Taco.

Highland Station, a 95,257-square-foot Publix anchored shopping center is also located directly across East-West Connector from the subject. Other major retailers with a presence in the immediate area include: Walgreens, CVS, World Gym, KFC, PNC Bank, SunTrust, Pizza Hut, RaceTrac, Burger King, Bank of America, BB&T, AT&T, Advance Auto Parts, Five Guys, Anytime Fitness, Starbucks, BB&T, Waffle House, Regions Bank, Kroger, Pilot, Wendy' s, Chase Bank, Kauffman Tire, Atlanta Bread Company, FedEx Office and Twisted Taco. The property is also surrounded by a critical mass of retail, office, industrial and multifamily developments with more than 2.77 MSF of retail, 6 MSF of office, 9.47 MSF of industrial and 11,290 multifamily units within a 3-mile radius.

This investment gives the qualified investor the opportunity to acquire a new, 15-year NNN ground lease asset leased to a leading global foodservice retailer with approximately 773 locations and more than $430M in annual revenues.

Highlights

  • Tenant: Krispy Kreme Doughnuts (NYSE: KKD) is a leading global food service retailer with 740+ retail locations and a net worth of over $263 million
  • 15-year Absolute NNN Ground Lease to commence when Krispy Kreme opens (Est.: 1/2014) with four 5-year options to renew No Landlord responsibilities
  • 5% rent increases every 5 years
  • High Visibility Location: Situated on South Cobb Drive (Traffic Count: 35,753), just south of its intersection with East-West Connector
  • 3-mile population and average household income of 66,056 and $96,191, respectively
  • 2.77 MSF of retail, 6 MSF of office, 9.47 MSF of industrial and 11,000+ multi-family units within a 3-mile radius

Research

4560 South Cobb Drive, Smyrna, GA 30082 (Cobb County)

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