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|Remaining Term||8 years, 5 months|
JLL is pleased to exclusively offer the opportunity to acquire a single-tenant property corporately leased to Academy Sports (the “Property”) in McDonough, Georgia, a suburb of Atlanta. Academy Sports commenced its lease in April 2011 and now has more than 8 years of remaining lease term. This NN lease features an upcoming $0.50/SF rental increase in 2021 and at the beginning of each of the six (6), five (5) year options to renew.
- Attractive, NN (limited Landlord responsibilities) Academy Sports lease with more than 8 years of term remaining and six (6), 5-year options to renew. Rent increases $0.50/SF in 2021 and at the beginning of every option period. Corporately leased by Academy Sports, Ltd. – a wholly owned subsidiary of KKR.
- KKR & Co. recently announced that Academy Sports has confidentially filed for an initial public offering that could happen before year end 2020, which could dramatically enhance the value of the company.
- Situated on McDonough Hampton Road, a major retail artery that is home to multiple, nationally recognized tenants and carries nearly 26,000 VPD. McDonough Hampton Road intersects with I-75 (less than 1 mile away), which serves over 120,000 VPD.
- Ranked the 2nd highest trafficked apparel store within a 15-mile radius and placed within the 98th percentile of all apparel stores in Georgia based on number of customer visits (Placer A.I.)
- Proximate to attractive, nationally recognized tenants including Kohl’s, T.J. Maxx, Kirkland’s, Hobby Lobby, and Five Below. Also adjacent to a recently delivered Dave & Buster’s arcade. Less than 2.5 miles away from Atlanta’s distribution hub comprised of more than 75 industrial buildings totaling more than 44 million SF.
- Located center to a 5-mile trade area with a population of nearly 75,000 residents. Multiple residential developments have hit the pipeline to keep up with McDonough’s housing demand due to its 151% population increase since 2000 and 10.7% projected growth from 2020 to 2025.
- McDonough is part of the overall Atlanta MSA, the 9th largest metropolitan area in the United States home to over 6 million people. McDonough benefits from Atlanta’s economic coattails as the area is home to over 14 Fortune 500 companies and was voted the No. 2 Areas for Business Climates by Business Facilities.