1625-1705 Market Place Blvd
Cumming, GA 30041
Retail Property For Sale

Market Place is a 14,000 sf, 100% leased Kohl’s shadow center located in Cumming, GA, an extremely high growth, high income area just 40 miles north of downtown Atlanta. Market Place is located just off Georgia 400 (62,000+ cars/day) and Highway 20 (40,000+ cars/day) on Market Place Boulevard. The center sits in one of the most dense retail corridors in the region with several big box retailer in the immediate corridor: Walmart, Home Depot, Lowe’s, SuperTarget, Bed Bath & Beyond, BJ’s, Costco, Dick’s, T.J.Maxx, Ashley Furniture, Old Navy, Petco, HomeGoods, Publix, and a new Sprouts and LA Fitness. Also nearby is Northside Hospital’s Forsyth campus, which continues to expand on its current 284-bed hospital with more than 2,500 physicians and over 3,000 employees. One of the main attractions to the region is Lake Lanier. Lake Lanier, established in 1956, encompasses 38,000 acres, or 59 square miles of water, and has about 8 million visitors per year. Market Place is situated in one of the fastest growing markets in the country with well above average household income levels. Since 2000, the 5-mile population from the subject property has grown by more than 134% and is expected to grow another 13% over the next five years. In addition, the average household incomes in the 3-mile radius and 5-mile radius from the subject property are $101,103 and $113,226. With few natural barriers to limit development, tremendous population-growth over the past decade expanded the Atlanta MSA’s borders and the region now has a population of roughly 5.7 million people. Over the next five years the region is expected to add nearly 500,000 more residents. Atlanta currently ranks fifth in the nation in the number of Fortune 500 headquarters with 17 companies, including UPS, Home Depot, Delta Airlines, Coca-Cola, Aflac, and recently added Mercedes Benz. Atlanta continues to make strong gains in employment and ranks among the highest in the nation for job growth with adding nearly 400,000 jobs the last four years. A pro-business environment and affordability has helped Atlanta rise to second in the nation in job creation last year. Because of this growth, retail sales have grown nearly 5 percent over the previous 12-month period, exceeding the national pace of growth, and vacancy is expected to drop 40 basis points while rents expected to increase over 3.0%. Market Place, built in 2001, is currently 100% leased and four of the five tenants are the original tenants (16-year occupancy history on 87% of the center). The most recent tenant, Mailloux Salon has been in occupancy since 2012. In addition, all five of the tenants have just exercised new five-year terms, bringing all tenants expiration dates to 2022. Rack Room Shoes is the largest tenant and occupies 46% of the center. Rack Room Shoes currently operates over 500 locations nationwide and recently renovated their space at Market Place at a cost of approximately $400,000 to the tenant. All tenants reimburse for CAM, Taxes, and Insurance.