1750 Scenic Hwy N
Snellville, GA 30078
Outback Steakhouse: Snellville, GA · Retail Property For Sale

CBRE’s Net Lease Property Group is pleased to present the opportunity to acquire a 6,497-square-foot freestanding Outback Steakhouse situated on 1.64 acres in Snellville, Georgia, which is an upscale bedroom community of Atlanta (23 miles southwest). Outback Steakhouse’s new 15-year absolute NNN ground lease features a 4% rent increase in Year 6 and ±10% rent increase in Year 11 and in each of the three 5-year renewal options. Currently under construction, the property is part of the new 13-acre Park Place development and is located adjacent to a newly constructed Freddy’s, Cracker Barrel, Zaxby’s and Aspen Dental as well as the site of a 5 story, 100-room Hampton Inn & Suites which is currently under construction. Outback Steakhouse has excellent access and visibility at a hard corner of a signalized intersection on Scenic Highway/SR 124 (Traffic Count: 40,700 VPD), which serves as one of the area’s primary thoroughfares and the #1 retail node east of I-85 in Atlanta with more than 5.4 MSF of retail space (98% leased). The development benefits from 6 points of ingress and egress and a full access dedicated traffic light. Additionally, a critical mass of power centers with premier national tenants surround the site, including the 376,071-square-foot Presidential Commons (Anchors: Home Depot, Kroger, Stein Mart, buybuy BABY, and Jo-Ann Fabrics and Crafts), the 393,251 Presidential Markets (Anchors: Target, Publix, Bed Bath & Beyond, T.J. Maxx, PetSmart, Party City, Marshalls, and Ross), the 333,795-square-foot Shoppes at Webb Gin (Anchors: Sprouts, DSW, Kirkland’s, Barnes & Noble), the 186,603-square-foot Snellville Exchange Shopping Center (Anchors: Hobby Lobby, newly constructed Carmike Ovation Cinema Grill and occupied by La-Z-Boy and Jim N’ Nick’s), and the newly-constructed 87,775-square-foot Scenic Promenade (Anchors: Best Buy, The Fresh Market, and HomeGoods). Further, the area benefits from exceptional demographics with a population of 63,562 and average household income of $92,926 within a 3-mile radius. Snellville, Georgia (approximately 20,000 residents) is home to upscale housing, ample shopping and entertainment options, and has matched the pace of growth in the rest of Gwinnett County in recent years. In 2006, the city dedicated a newly constructed City Hall, part of a $6,700,000 project called Towne Center at Snellville that replaced an underused supermarket with a municipal complex. Efforts to transform Snellville’s city center are ongoing, with plans to incorporate public parks, housing, and office and retail space.