3045 Atlanta Hwy
Athens, GA 30606
Office Depot · Retail Property For Sale

OFFICE DEPOT, INC: Founded in 1986, Office Depot, Inc (NASDAQ: ODP, S&P: B) is a leading office supply retail company headquartered in Boca Raton, Florida. The company operates an omni-channel platform of 1,361 stores, e-commerce sites, and a B2B sales organization. As of March 31, 2019, Office Depot, Inc. reported TTM total sales of $11.0 billion, total assets of $7.5 billion, and stockholder’s equity of $2.1 billion. NET LEASE WITH RENEWAL OPTIONS: Built in 2003, Office Depot’s net lease features ±4.6 years of term remaining with two 5-year renewal options. The first option features a $1.50 PSF rent escalation, while the second option features a $1.00 PSF rent escalation. BRAND NEW ROOF WITH 20-YEAR WARRANTY: A new roof was just installed over the building and has a 20-year Firestone warranty. EXCELLENT ACCESS & VISIBILITY: The property is positioned with excellent access and visibility along Atlanta Highway (Traffic Count: 55,000 VPD) and is less than 1.5 miles from Athens Perimeter Highway (Traffic Count: 44,000 VPD), which encircles a central portion of Athens. STRATEGIC LOCATION: Office Depot is located within the West Athens Retail Center that is anchored by the only Target in Athens and further occupied by a recently-developed Hardee’s, JOANN, GameStop, and Catherines. The adjacent JOANN is expected to open for business in August 2019 and will feature a 10-year net lease. Office Depot is strategically located across from Walmart Neighborhood Market, BMW, Subaru, Ag-Pro Companies (John Deere), and Discount Tire. The site is also less than 2 miles east of the Georgia Square Mall, which is anchored by Belk, JCPenney, and Sears. Other tenants include Journey’s, Foot Locker, The Children’s Place, Men’s Wearhouse, New York & Company, rue21, and Kay Jeweler’s, among others. PROXIMITY TO UNIVERSITY OF GEORGIA: The property is just 4 miles from The University of Georgia (Enrollment: 37,606), which boasts a $6.3 billion economic impact on the state of Georgia and is Athens’ primary economic driver. The University of Georgia is the 13th best public university in the country (Source: U.S. News & World Report). UGA is the nation’s oldest federal land grant university and Georgia’s largest university. The university is the area’s largest employer and is also a significant tourism draw. UGA boasts more than 200,000 living alumni and countless other supporters in the region—the population of which nearly doubles on football weekends. With increasing enrollment, faculty and staff numbers continue to expand. Because of this expansion, Athens has experienced employment growth at higher rates than the state and nation.