7342 Stonecrest Concourse
Lithonia, GA 30038
Stonecrest Pavilion · Retail Property For Sale

Reduced: Stonecrest Pavilion 10.8% CAP, $72/SF Stonecrest Pavilion is an excellent opportunity to acquire a national tenant anchored shopping center for only $72/SF, which includes 2 additional leased retail spaces. The shopping center was built in 2003, and is well located across from Stonecrest Mall, which benefits from the traffic traveling to and from the Mall. hhgregg is an original tenant, and has 3X5 year options after the end of their lease, which runs through March of 2018. hhgregg has prospered into 229 stores in 20 different states. hhgregg is an appliance, electronics and furniture retailer that ranked highest in customer satisfaction for appliance retailers by J.D Power and Associates in 2014. Pro Fit Fitness & Rehab occupies 6,000 SF, which is a full service fitness center that combines professional physical therapy and personal training to help clients meet their fitness, weight loss, recovery or performance goals. The other tenant is J&M Furniture Direct, which occupies 12,000 SF and has been serving Atlanta for the past 25 years. The area is strong, and Stonecrest Mall is the largest regional mall on the east side of Atlanta, drawing shoppers from Augusta, Metro Atlanta and beyond. There are over 99,000 people living within 5 miles, with a household income of over $56,000, which is expected to grow by 9.25% in the next 5 years. In addition, there are 126,200 cars passing per day on I-20, which has great visibility to the Stonecrest Mall area. Donald Bieler, director of marketing at Stonecrest Mall, said that the mall had record sales in 2015 and that 2016 results were encouraging too based on an email he sent to Atlanta Journal Constitution. Lithonia is in eastern DeKalb County, about 20 miles east of downtown Atlanta and about 8 miles south of Stone Mountain. Lithonia means "city of stone," which is accurate as Lithonia as the area has a history of rock quarries. Lithonia' s close proximity to the scenic and natural amenities of Panola Mountain State Park and the Davidson-Arabia Mountain Nature Preserve provides a connection to these natural amenities. The city continues to put an emphasis on green space for the use of the people living in the area.