216-230 Bullsboro Dr
Newnan, GA 30263
Call For Offers | Shenandoah Plaza | 4.3.18 · Retail Property For Sale

SRS Investment Properties Group, as exclusive broker, is pleased to issue an initial Call For Offers on Shenandoah Plaza - a 146,121 +/- square foot community center anchored by Big Lots, Goodwill, Habitat for Humanity ReStore, and Dollar General and located within the Atlanta, GA MSA. **Initial offers due on Tuesday, April 3rd, 2018 by 5:00 PM EST** Please Include In Offer: *Price *Deposit *Due Diligence Time *Closing Date *Source of Funds/Buyer Resume The current tenant roster at Shenandoah Plaza is comprised of 96% national retailers, most of which cater to value-minded shoppers, while creating a notable synergy within the Shopping Center. The physical fundamentals of the Property are in good shape and have received both regular maintenance and recent improvements, positioning the asset well for the future. The entirety of the shopping center façade was repaired and painted in 2016, and over 78% of the roofs were replaced in 2009. This provides an incoming buyer with a retail asset that is in excellent condition and an ideal state for garnering tenant interest in regards to available space. Shenandoah Plaza offers investors a rare opportunity to add significant value to an already high-functioning retail center. With 26,495 +/- SF of available space, including a junior anchor box, an incoming investor has a very viable opportunity to continue to grow the NOI significantly by leasing the remaining 18.13% vacancy while building on recent momentum established with ReStore's new 5-year lease. Location Located roughly 35 miles southwest of Downtown Atlanta and 25 miles southwest of Atlanta Hartsfield-Jackson International Airport. A bedroom community for Atlanta, Newnan serves as the county seat for Coweta County as well as a satellite location for Mercer University, the University of West GA and West Georgia Technical College. The area benefits from a vibrant daytime population which is supported by nearly 2.3 million square feet of office space within a 10-mile radius of the Property and over 13.6 million square feet of additional commercial space within the same area, including several newly developed distribution centers. Recent nearby developments include the Cancer Treatment Centers of America, adjacent to Ashley Park, which originally opened in 2012 and is currently constructing an adjacent $48 million, 121,000 square foot expansion facility. Strategically positioned at the signalized intersection of Bullsboro Dr (GA-34) and Ashley Park Blvd, in the heart of Newnan’s primary retail thoroughfare. Bullsboro Dr. (GA-34) is a four-lane divided highway accommodating the heavy flow of traffic along the corridor, which reaches 46,000 VPD on Bullsboro Dr and 60,000 VPD one mile to the east on I-85. Advantageously situated directly across the street from Ashley Park – an open-air retail park with a wide customer draw which is home to Belk, Barnes & Noble, Best Buy, Dillard’s, DSW and Regal Cinemas, along with surrounding retailers like BJ’s, Rooms To Go, Target, Ashley Furniture, Old Navy and more.