1424 N Expressway
Griffin, GA 30223
Spalding Village · Retail Property For Sale

SRS Investment Properties Group, as exclusive broker, is pleased to offer Spalding Village - a market-leading retail center anchored by Hobby Lobby, Ross Dress For Less, Goodwill, Ollie’s Bargain Outlet and Bargain Hunt - located within the Atlanta, GA MSA. Spalding Village’s anchor tenants account for 73.4% of a tenant roster comprised of 80.9% national tenants. A synergistic blend of major retailers, the anchors at the Property provide a convenient, one-stop shopping experience catering to the value-minded consumer. The Center boasts excellent, recent leasing momentum highlighted by a new, national anchor tenant in Ollie’s, occupying 31,620± SF. Additionally, both Ross Dress For Less and Bargain Hunt signed new 10 and 7-year leases, respectively, in 2017. In all, almost 97,000± SF of space has been leased since the beginning of 2017 – a tremendous amount of recent activity at Spalding Village. With 15,377± SF still available for lease-up, the Center provides the next iteration of ownership an excellent, ongoing opportunity to grow the NOI in the immediate future. The Property has benefited from notable capital improvements, which mitigate near-term costs for the next iteration of ownership. Long-term roof warranties, which cover roughly 74% of the Center, are in place through 2029, 2037 and 2039. Additionally, facades and anchor interiors have been renovated and updated in conjunction with new leases with Bargain Hunt, Ross Dress For Less and Ollie’s Bargain Outlet. Location Spalding Village serves as a major component of what is Griffin’s retail center of gravity, fronting the US-41/US-19/GA-3 corridor, which runs north from Griffin to Downtown Atlanta. Situated directly across the street from regional consumer draws like Walmart Supercenter, Marshalls, Regal Cinemas, Belk, PetSmart and more, Spalding Village is part of a notable shopping node. Additionally, a plethora of nearby outparcels like Burger King, KFC, Pep Boys, Verizon, IHOP, Aspen Dental, Walgreen’s, McDonald’s, and Zaxby’s bolster the overall retail synergy in front of and adjacent to Spalding Village. Spalding Village is located in Griffin, Georgia – roughly 38 miles south of Downtown Atlanta. The county seat for Spalding County, Griffin is home to the University of Georgia’s Griffin Campus, as well as Wellstar Spalding Regional Hospital. Positioned just west of Interstate 75, Griffin is situated about halfway between Macon and Atlanta as part of the Atlanta-Sandy Springs-Roswell, GA MSA – the 9th largest metropolitan area in the nation. The cultural, medical, entertainment, and economic center of the Southeast, Atlanta continues its pattern of rapid expansion over the last two decades, growing to 5.8-plus million people with over 150,000 businesses. As the state of Georgia continues to grow and prosper in the area of business and economic development, all of metropolitan Atlanta, including surrounding areas like Spalding County, has become a leader in attracting new industry worldwide. According to Site Selection Magazine, Georgia has been the “#1 Business Climate in the Nation” for the last five years. Corporations continue to look at the Greater Atlanta area to locate and re-locate their headquarters, distribution facilities and offices. In fact, more than $800 million in new capital investment and more than 11,500 new jobs have been announced since 2007.