2435 Commerce Ave
Duluth, GA 30096
Building 2200 · Office Property For Sale

Bull Realty is pleased to offer you with the opportunity to acquire a 56,903 SF class A office building in the Satellite Place Office Park in Duluth, GA. This single tenant net leased investment is occupied by National Vision (NVI) for their U.S. corporate headquarters. NVI is one of the largest and fastest growing optical retailers in the United States, operating over 1,000 retail locations in 44 states with 10,000+ employees. The retail divisions include America’s Best Contacts & Eyeglasses, Eyeglass World, Vision Centers inside Walmart and Vista Optical on military bases. Moody’s recently upgraded National Vision’s CFR to B2 with stable outlook. The contract for 227 NVI locations inside Walmart stores was just renewed. NVI recently had a $348 million Initial Public Offering on the NASDAQ Exchange under ticker symbol EYE. The current market cap is greater than $2 billion. Please refer to the Bloomberg Market Update on page 12 for additional information. Satellite Place includes more than 1.2 million SF of Class A Office, is located nearby the Gwinnett Place Mall and is surrounded by dense retail including many auto dealerships. The property itself is in close proximity to very affluent Gwinnett County neighborhoods. The tenant lease is landlord oriented whereby the tenant pays for operating expenses above a baseline that was established in 2015. It provides for annual escalations and extensions. The tenant recently spent $2 million on extensive interior improvements further establishing their commitment to the property. Landlord obligations include roof and structure. The Landlord installed a new roof in February 2017 which carries a 20-year assignable warranty. If you would like to view the financials in greater detail please execute and return the Confidentiality Agreement on the last page of this Offering Memorandum.