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5755 North Point Parkway, Suite 262 Alpharetta, GA 30022 770.481.1960 www.shanegroup.net TOWN CENTER MALL SHOPS 390 Barrett Pkwy, Kennesaw, GA 5755 North Point Parkway, Suite 262 Alpharetta, GA 30022 770.481.1960 www.shanegroup.net

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Page 1: Alpharetta, GA 30022 770.481.1960 ...CosmoProf (guaranteed by Sally Beauty) recently signed a new 10 year lease; giving the center over 40% of it’s occupancy with 10 year leases

5755 North Point Parkway, Suite 262

Alpharetta, GA 30022

770.481.1960

www.shanegroup.net

TOWN CENTER MALL SHOPS

390 Barrett Pkwy, Kennesaw, GA

5755 North Point Parkway, Suite 262

Alpharetta, GA 30022

770.481.1960

www.shanegroup.net

Page 2: Alpharetta, GA 30022 770.481.1960 ...CosmoProf (guaranteed by Sally Beauty) recently signed a new 10 year lease; giving the center over 40% of it’s occupancy with 10 year leases

390 Barrett Pkwy, Kennesaw, GA 770.481.1960 | www.shanegroup.net

TOWN CENTER MALL SHOPS

Page 3: Alpharetta, GA 30022 770.481.1960 ...CosmoProf (guaranteed by Sally Beauty) recently signed a new 10 year lease; giving the center over 40% of it’s occupancy with 10 year leases

390 Barrett Pkwy, Kennesaw, GA 770.481.1960 | www.shanegroup.net

TOWN CENTER MALL SHOPS

See accompanying Confidentiality Statement.

INVESTMENT SUMMARY

AERIAL MAPS

SITE PLAN

PHOTOGRAPHS

RENT ROLL

FINANCIAL SUMMARY

TENANT OVERVIEW

LEASE ABSTRACT

RENT COMPARABLES

LOCATION MAPS

DEMOGRAPHICS

BUILDING: 25,005 SF | LAND: 2.10 ACRES | YEAR BUILT: 1987

Outparcel to 1.2mm SF Regional Mall Anchor Tenant (Mattress Firm) signed new 10 year Lease Over 50% of the center has been here 10+ years Major Retail Node: over 4.2mm SF of retail Directly adjacent to two major Interstates Significant Daytime Population: over 118,000 within 5 miles

Town Center Mall Shops is a 7 tenant retail center located on a prime outparcel to Town Center Mall, a 1.2mm SF Regional Mall

anchored by Macy’s, Belk, Sears and JCPenney. Mattress Firm has anchored the center for the past 10 years and recently signed a

new 10 year lease extension. CosmoProf (guaranteed by Sally Beauty) recently signed a new 10 year lease; giving the center over

40% of it’s occupancy with 10 year leases. Additionally, over 50% of the tenants have been here for 10 plus years. This property is

ideally located within a major retail market of over 4mm SF of retail. The property sits on Barrett Pkwy, which has over 41,300 cars

per day and is directly adjacent to Interstate 575, which has over 78,500 cars per day. It’s also less than one half mile from

Interstate 75, which has over 145,900 cars per day.

Town Center Mall Shops is located in Kennesaw, GA, a high growth Atlanta suburb approximately 30 miles north of downtown

Atlanta. There are approximately 177,000 people within 5 miles of the property with an average HH income just over $86,000.

Additionally, there is a tremendous daytime population of 62,000 within 3 miles and over 118,000 within 5 miles. The population

has grown 10% to 15% in this area since 2010 and is expect to grow another 7% over the next 5 year. As noted above, the property

is located on Barrett Pkwy (41,300 cars per day), conveniently off Interstate 575 (78,500 cars per day) and Interstate 75 (145,900

cars per day). The property sits on a prime outparcel to Town Center Mall, a 1.2mm SF Regional Mall and within a 4.2mm SF retail

market. Nearby retailers include: Macy’s, Sears, JCPenney, Belk, Walmart, Home Depot, Starbucks, Marshalls, HomeGoods,

TJMaxx, Costco, Target, Best Buy, and many others (see the aerials for details). Kennesaw, GA

Page 4: Alpharetta, GA 30022 770.481.1960 ...CosmoProf (guaranteed by Sally Beauty) recently signed a new 10 year lease; giving the center over 40% of it’s occupancy with 10 year leases

390 Barrett Pkwy, Kennesaw, GA 770.481.1960 | www.shanegroup.net

TOWN CENTER MALL SHOPS

See accompanying Confidentiality Statement.

INVESTMENT SUMMARY

AERIAL MAPS

SITE PLAN

PHOTOGRAPHS

RENT ROLL

FINANCIAL SUMMARY

TENANT OVERVIEW

LEASE ABSTRACT

RENT COMPARABLES

LOCATION MAPS

DEMOGRAPHICS

Subject

Interstate 575

78,500 Cars Per Day

Interstate 75

145,900 Cars Per Day

Barrett Pkwy

41,300 Cars Per Day

Town Center Mall at Cobb

Page 5: Alpharetta, GA 30022 770.481.1960 ...CosmoProf (guaranteed by Sally Beauty) recently signed a new 10 year lease; giving the center over 40% of it’s occupancy with 10 year leases

390 Barrett Pkwy, Kennesaw, GA 770.481.1960 | www.shanegroup.net

TOWN CENTER MALL SHOPS

See accompanying Confidentiality Statement.

INVESTMENT SUMMARY

AERIAL MAPS

SITE PLAN

PHOTOGRAPHS

RENT ROLL

FINANCIAL SUMMARY

TENANT OVERVIEW

LEASE ABSTRACT

RENT COMPARABLES

LOCATION MAPS

DEMOGRAPHICS

Subject

Interstate 575

78,500 Cars Per Day

Interstate 75

145,900 Cars Per Day

Town Center Mall at Cobb

Page 6: Alpharetta, GA 30022 770.481.1960 ...CosmoProf (guaranteed by Sally Beauty) recently signed a new 10 year lease; giving the center over 40% of it’s occupancy with 10 year leases

390 Barrett Pkwy, Kennesaw, GA 770.481.1960 | www.shanegroup.net

TOWN CENTER MALL SHOPS

See accompanying Confidentiality Statement.

INVESTMENT SUMMARY

AERIAL MAPS

SITE PLAN

PHOTOGRAPHS

RENT ROLL

FINANCIAL SUMMARY

TENANT OVERVIEW

LEASE ABSTRACT

RENT COMPARABLES

LOCATION MAPS

DEMOGRAPHICS

1 2

4 5

3

6 7

Tenant List

1: Mattress Firm

2: Savvi Formalwear

3: Seller 1 Yr Guaranty

4: Physiotherapy Associates

5: Seller 1 Yr Guaranty

6: CosmoProf

7: Salon Suites

Page 7: Alpharetta, GA 30022 770.481.1960 ...CosmoProf (guaranteed by Sally Beauty) recently signed a new 10 year lease; giving the center over 40% of it’s occupancy with 10 year leases

390 Barrett Pkwy, Kennesaw, GA 770.481.1960 | www.shanegroup.net

TOWN CENTER MALL SHOPS

See accompanying Confidentiality Statement.

INVESTMENT SUMMARY

AERIAL MAPS

SITE PLAN

PHOTOGRAPHS

RENT ROLL

FINANCIAL SUMMARY

TENANT OVERVIEW

LEASE ABSTRACT

RENT COMPARABLES

LOCATION MAPS

DEMOGRAPHICS

Page 8: Alpharetta, GA 30022 770.481.1960 ...CosmoProf (guaranteed by Sally Beauty) recently signed a new 10 year lease; giving the center over 40% of it’s occupancy with 10 year leases

390 Barrett Pkwy, Kennesaw, GA 770.481.1960 | www.shanegroup.net

TOWN CENTER MALL SHOPS

See accompanying Confidentiality Statement.

INVESTMENT SUMMARY

AERIAL MAPS

SITE PLAN

PHOTOGRAPHS

RENT ROLL

FINANCIAL SUMMARY

TENANT OVERVIEW

LEASE ABSTRACT

RENT COMPARABLES

LOCATION MAPS

DEMOGRAPHICS

START EX PIRATION

Mattress Firm 8,092 32.36% Oct-07 Oct-27 $202,300 $25.00 $28,937 8% Yr 6

Savvi Formalwear 3,120 12.48% Oct-13 Oct-18 $49,088 $15.73 $11,157 3% per Yr

Seller 1 Yr Guaranty 1,994 7.97% $31,904 $16.00 $7,131

Physiotherapy Assoc. 2,836 11.34% Jan-16 Apr-21 $49,176 $17.34 $10,142 2% per Yr

Seller 1 Yr Guaranty 1,425 5.70% $22,800 $16.00 $5,096

CosmoProf 2,494 9.97% May-17 May-27 $34,916 $14.00 $8,919 3% per Yr

Salon Suites 4,543 18.17% Oct-01 Dec-19 $54,516 $12.00 $16,246 4% on 1/1/18

Non-Rentable Storage 501 2.00%

Notes regarding Recapture / Management / Admin Fees:

* All tenants pay pro-rata share of Taxes, Insurance and Operating Expenses.

* The above Estimated Recapture does not include Management Recapture or Admin Fees; those are broken out on the Financial Summary page.

* Mattress Firm & CosmoProf pay only a 15% Admin Fee on everything except Taxes, Insurance and Utilities.

* Savvi Formalwear & Physiotherapy Associates pay a Management Fee plus a 15% Admin Fee on all expenses.

* Salon Suites pays a Management Fee plus a 5% Admin Fee on all expenses.

* Recapture for the 1 Year Guaranty spaces includes Management and a 15% Admin Fee on all expenses.

25,005 $87,627

Occupied 98% 24,504 100.00% $444,700 $18.15 $87,627

Vacant % #DIV/0!

Storage 2% 501

1 Year

1 Year

$444,700

1 x 5

OPTIONS

1 x 5

1 x 52

ANNUAL

RENT/SQ. FT. ESCALATIONS

ESTIMATED

RECAPTURE

1

SQUARE

FOOTAGE

ANNUAL

BASE RENT

% OF

CENTER

LEASE TERM

SUITE

2 x 54

5

6

7

TENANT

3

1 x 5

6A

Page 9: Alpharetta, GA 30022 770.481.1960 ...CosmoProf (guaranteed by Sally Beauty) recently signed a new 10 year lease; giving the center over 40% of it’s occupancy with 10 year leases

390 Barrett Pkwy, Kennesaw, GA 770.481.1960 | www.shanegroup.net

TOWN CENTER MALL SHOPS

See accompanying Confidentiality Statement.

INVESTMENT SUMMARY

AERIAL MAPS

SITE PLAN

PHOTOGRAPHS

RENT ROLL

FINANCIAL SUMMARY

TENANT OVERVIEW

LEASE ABSTRACT

RENT COMPARABLES

LOCATION MAPS

DEMOGRAPHICS

B u i l d i n g

Price: 1987

Down Payment: 35.00% Building Square Feet: 25,005

7.50% Land Parcel (Acres): 2.10

$218.64

$17.78

First Loan Amount:

Interest Rate: 4.75%

Amortization: 25

Term: 5

Monthly Payment:

Current Rents

444,700$ 41,080$

7,185 8,433

Plus Management Recapture 7,426 7,400

87,627 18,750

546,938$ 3.0% 13,341

27,347 5.0% 9,796

519,591$ 3,960

109,441 1,680

410,150$ 5,001

243,113

167,037$ 8.7%

75,959

242,996$ 12.7% 109,441$

Per Rentable Square Foot: $4.38

Less Expenses

Maintenance

Insurance

Utilities

Landscaping / Sweeping

Management

$1,913,450

Year Built:

Current CAP:

F i n a n c i a l

$5,467,000

Salon Suites

Cost per Gross Square Foot:

Mattress Firm

Savvi Formalwear

Physiotherapy Associates

Annual Rent per Square Foot:

$3,553,550

L o a n I n f o r m a t i o n

Pre Tax Cash Flow

Gross Operating Income

Total Income

Plus Taxes, Ins., CAM Recapture

Total Return Before Taxes

Less Vacancy

Total Expenses

T e n a n t s

CosmoProf

Plus Principal Reduction

Loan Payments

$20,259.41

R e t u r n

Net Operating Income

E x p e n s e s

Scheduled Gross Income

Plus Admin Fees

Rubbish

Other Maintenance / Repairs

* Loan above is proposed for cash flow purposes.

Capital Reserves ($0.20 PSF)

Taxes

Page 10: Alpharetta, GA 30022 770.481.1960 ...CosmoProf (guaranteed by Sally Beauty) recently signed a new 10 year lease; giving the center over 40% of it’s occupancy with 10 year leases

390 Barrett Pkwy, Kennesaw, GA 770.481.1960 | www.shanegroup.net

TOWN CENTER MALL SHOPS

See accompanying Confidentiality Statement.

INVESTMENT SUMMARY

AERIAL MAPS

SITE PLAN

PHOTOGRAPHS

RENT ROLL

FINANCIAL SUMMARY

TENANT OVERVIEW

LEASE ABSTRACT

RENT COMPARABLES

LOCATION MAPS

DEMOGRAPHICS

With more than 3,500 company-operated and franchised stores across 49 states,

Mattress Firm has the largest geographic footprint in the United States among multi-

brand mattress retailers. Founded in 1986, Houston-based Mattress Firm is the

nation's leading specialty bedding retailer with over $3.5 billion in pro forma sales in

2015. In September 2016, the company was acquired by Steinhoff International for

$3.8 billion, and Mattress Firm now operates as a subsidiary of Steinhoff. The

company, through its brands including Mattress Firm, Sleepy's and Sleep Train, offers

a broad selection of both traditional and specialty mattresses, bedding accessories and

other related products from leading manufacturers, including Serta, Simmons and

Hampton & Rhodes.

Savvi Formalwear is a cooperative of over 1,000 locations nationwide of the finest

formalwear retailers in the world. The organization is collectively managed so that

customers are seamlessly served across the United States and Canada. To ensure the

very best service for every customer, all locations are family owned and operated by

members in their respective communities. And all locations are served by local

warehouses so that tuxedos look their best when you wear them for your event. The

cooperative model allows us to realize large company benefits regarding such things as

buying power, resource pooling, and national branding, while simultaneously providing

the exacting levels of customer service only possible with local, entrepreneurial

ownership. It is this combination of corporate-level management and innovation,

combined with the passion and commitment of our local store owners, that makes

shopping at Savvi a unique and satisfying experience.

Page 11: Alpharetta, GA 30022 770.481.1960 ...CosmoProf (guaranteed by Sally Beauty) recently signed a new 10 year lease; giving the center over 40% of it’s occupancy with 10 year leases

390 Barrett Pkwy, Kennesaw, GA 770.481.1960 | www.shanegroup.net

TOWN CENTER MALL SHOPS

See accompanying Confidentiality Statement.

INVESTMENT SUMMARY

AERIAL MAPS

SITE PLAN

PHOTOGRAPHS

RENT ROLL

FINANCIAL SUMMARY

TENANT OVERVIEW

LEASE ABSTRACT

RENT COMPARABLES

LOCATION MAPS

DEMOGRAPHICS

For nearly 25 years, Physio has been providing patients with outpatient physical

rehabilitation care. From Physical, Occupational, Hand and Speech Therapy to

Orthotics and Prosthetics our full suite of services focuses on giving our patients a

holistic approach throughout the course of their wellness journey. Each day we treat

all types of injuries from every day aches and pains, traumatic injuries to work related

rehabilitation and sports performance and rehabilitation for people of all ages. Our

comprehensive care is administered by leading expert clinicians spanning over 540

locations across 28 states to conveniently serve our patients. Combined with flexible

appointment schedules and the ability to accept most major insurances, we provide

the ease and access needed to ensure our patient’s success.

CosmoProf has over 1,040 stores nationwide and access to 25,000+ products from the

best brands in the industry. CosmoProf is owned by Sally Beauty Holdings, Inc., the

largest distributor of professional beauty products in the U.S. based on store count.

Sally Beauty (NYSE: SBH, Market CAP: $2.72 Billion) has over 50 years in business and

is headquartered in Denton, TX. They have 27,000 full-time and part-time employees

working in 13 countries. They have over 5,000 stores worldwide and sales of over

$3.8 Billion in 2015. Operations are throughout the United States, Puerto Rico, the

United Kingdom, Belgium, Canada, Chile, Columbia, Mexico, Peru, France, Ireland,

Spain, Germany, and the Netherlands. Product categories include hair color, hair care,

hair dryers, and hair styling appliances, nail and skin care, and other beauty products.

Page 12: Alpharetta, GA 30022 770.481.1960 ...CosmoProf (guaranteed by Sally Beauty) recently signed a new 10 year lease; giving the center over 40% of it’s occupancy with 10 year leases

390 Barrett Pkwy, Kennesaw, GA 770.481.1960 | www.shanegroup.net

TOWN CENTER MALL SHOPS

See accompanying Confidentiality Statement.

INVESTMENT SUMMARY

AERIAL MAPS

SITE PLAN

PHOTOGRAPHS

RENT ROLL

FINANCIAL SUMMARY

TENANT OVERVIEW

LEASE ABSTRACT

RENT COMPARABLES

LOCATION MAPS

DEMOGRAPHICS

Salon Suites has been in business in the Atlanta area since 2001. We opened our first

location in Kennesaw, Georgia in October of 2001. We opened our second location in

Smyrna, Georgia in March of 2003. In July of 2005 our first Franchised location,

operated by Cedar Lake Salons, LLC, opened in Woodstock, Georgia. Salon Suites was

founded by Collette and Scott Wright who are still active full time in its day to day

operations. Their philosophy has always been to provide outstanding customer service

and to treat their tenants as they wish to be treated. For those not familiar with Suites

type Salons, also known as European style salons, we would like to provide a little

background: Suites type salons differ from traditional salons in some very distinct and

important ways. In traditional salons, stylists work at stations that are either out in the

open or are semi-private. Hair shampooing and rinsing is done at a central location

where there are usually multiple shampoo stations. Suites type salons offer each

stylist his or her own private suite, with four walls and a door. Within that suite is

everything needed to run a small one or two person salon: a styling station and chair,

shampoo bowl and chair, stand up hair dryer, and other furnishings the stylist may

choose. These individual Suites offer clients privacy and one on one attention. Beauty

professionals have the opportunity to personalize, furnish and decorate the suite with

virtually no limitations. But most importantly they have the opportunity to manage

their business as they choose – be their own boss, set their own hours, sell products of

their choice, and keep the profits. Salon Suites provides the benefits of salon

ownership without the related high initial investment and complexities of operating a

salon business, allowing beauty professionals to focus on their individual businesses.

Page 13: Alpharetta, GA 30022 770.481.1960 ...CosmoProf (guaranteed by Sally Beauty) recently signed a new 10 year lease; giving the center over 40% of it’s occupancy with 10 year leases

390 Barrett Pkwy, Kennesaw, GA 770.481.1960 | www.shanegroup.net

TOWN CENTER MALL SHOPS

See accompanying Confidentiality Statement.

INVESTMENT SUMMARY

AERIAL MAPS

SITE PLAN

PHOTOGRAPHS

RENT ROLL

FINANCIAL SUMMARY

TENANT OVERVIEW

LEASE ABSTRACT

RENT COMPARABLES

LOCATION MAPS

DEMOGRAPHICS

Termination Date

Term

Increases

Security Deposit

Year Annual Base Rent

11/1/17 to 10/31/22 $202,300

11/1/22 to 10/31/27 $218,484

11/1/27 to 10/31/32 $240,332

Landlord Expenses Roof, Foundation, & Structure

Insurance Paid by Tenant

CAM Paid by Tenant; including a 15% Admin Fee

Utilities Paid by Tenant

Options One 5 Year Option with a 10% rent increase

Taxes Paid by Tenant

8% increase on November 1, 2022

None

Rent Schedule Monthly Base Rent

$16,858.33

$18,207.00

Option 1 $20,027.70

Tenant recently executed a new 10 year extension; plus one 5 year Option

Tenant Mattress Firm, Inc.

Building 8,092 SF

Commencement Date August 10, 2007

October 31, 2027

Page 14: Alpharetta, GA 30022 770.481.1960 ...CosmoProf (guaranteed by Sally Beauty) recently signed a new 10 year lease; giving the center over 40% of it’s occupancy with 10 year leases

390 Barrett Pkwy, Kennesaw, GA 770.481.1960 | www.shanegroup.net

TOWN CENTER MALL SHOPS

See accompanying Confidentiality Statement.

INVESTMENT SUMMARY

AERIAL MAPS

SITE PLAN

PHOTOGRAPHS

RENT ROLL

FINANCIAL SUMMARY

TENANT OVERVIEW

LEASE ABSTRACT

RENT COMPARABLES

LOCATION MAPS

DEMOGRAPHICS

Guarantor

Termination Date

Term

Increases

Security Deposit

Year Annual Base Rent

10/6/13 to 10/31/14 $44,925

11/1/14 to 10/31/15 $46,273

11/1/15 to 10/31/16 $47,650

11/1/16 to 10/31/17 $49,088

11/1/17 to 10/31/18 $50,556

5 Years plus one 5 year Option

Tenant Heights, Inc. d/b/a Savvi Formalwear

Building 3,120 SF

Commencement Date October 6, 2013

October 31, 2018

3% per year; see Rent Schedule below

$3,743.75

Rent Schedule Monthly Base Rent

$3,743.75

Taxes Paid by Tenant

$3,856.06

$3,970.87

$4,212.97

$4,090.67

Thomas Pacer & Arlene Walrath (guaranty limited to $25K & expires after 5 years)

Landlord Expenses Roof & Structure

Insurance Paid by Tenant

CAM Paid by Tenant; including a Management Fee & 15% Admin Fee

Utilities Paid by Tenant

Options One 5 Year Option with 3% annual rent increases

Page 15: Alpharetta, GA 30022 770.481.1960 ...CosmoProf (guaranteed by Sally Beauty) recently signed a new 10 year lease; giving the center over 40% of it’s occupancy with 10 year leases

390 Barrett Pkwy, Kennesaw, GA 770.481.1960 | www.shanegroup.net

TOWN CENTER MALL SHOPS

See accompanying Confidentiality Statement.

INVESTMENT SUMMARY

AERIAL MAPS

SITE PLAN

PHOTOGRAPHS

RENT ROLL

FINANCIAL SUMMARY

TENANT OVERVIEW

LEASE ABSTRACT

RENT COMPARABLES

LOCATION MAPS

DEMOGRAPHICS

Guarantor

Termination Date

Term

Increases

Security Deposit

Year Annual Base Rent

1/4/16 to 4/30/17 $48,212

5/1/17 to 4/30/18 $49,176

5/1/18 to 4/30/19 $50,160

5/1/19 to 4/30/20 $51,163

5/1/20 to 4/30/21 $52,186

CAM Paid by Tenant; including a Management Fee & 15% Admin Fee

Utilities Paid by Tenant

Landlord Expenses Roof, Foundation & Structure

Taxes Paid by Tenant

Insurance Paid by Tenant

$4,348.85

Options Two 5 Year Options with 2% annual rent increases

$4,263.58

April 30, 2021

5 Years plus two 5 year Options

2% per year; see Rent Schedule below

$5,024.45

Rent Schedule Monthly Base Rent

$4,017.67

$4,098.02

$4,179.98

Tenant Physiotherapy Associates, Inc.

Physiotherapy Associates Holdings, Inc.

Building 2,836 SF

Commencement Date January 4, 2016

Page 16: Alpharetta, GA 30022 770.481.1960 ...CosmoProf (guaranteed by Sally Beauty) recently signed a new 10 year lease; giving the center over 40% of it’s occupancy with 10 year leases

390 Barrett Pkwy, Kennesaw, GA 770.481.1960 | www.shanegroup.net

TOWN CENTER MALL SHOPS

See accompanying Confidentiality Statement.

INVESTMENT SUMMARY

AERIAL MAPS

SITE PLAN

PHOTOGRAPHS

RENT ROLL

FINANCIAL SUMMARY

TENANT OVERVIEW

LEASE ABSTRACT

RENT COMPARABLES

LOCATION MAPS

DEMOGRAPHICS

Guarantor

Termination Date

Term

Increases

Security Deposit

Year Annual Base Rent

5/19/17 to 5/31/18 $34,916

6/1/18 to 5/31/19 $35,963

6/1/19 to 5/31/20 $37,042

6/1/20 to 5/31/21 $38,154

6/1/21 to 5/31/22 $39,298

6/1/22 to 5/31/23 $40,477

6/1/23 to 5/31/24 $41,692

6/1/24 to 5/31/25 $42,942

6/1/25 to 5/31/26 $44,231

6/1/26 to 5/31/27 $45,557

$3,274.86

$3,373.10

$3,474.29

CAM Paid by Tenant; including a 15% Admin Fee

Utilities Paid by Tenant

Landlord Expenses Roof, Structure & Exterior portions of the Premises

Taxes Paid by Tenant

Insurance Paid by Tenant

$3,796.46

Options One 5 Year Option with 6% increase for Year 11 and 3% per year thereafter

* Tenant has 90 days of free Base Rent upon Rent Commencement. Tenant also has

the option to cancel the lease if the gross sales for the 49th month through the 60th

month have not reached at least $300,000.

Free Rent / Early

Termination

$2,909.67

$3,578.52

$3,685.88

$2,996.96

$3,086.87

$3,179.47

May 31, 2027

10 Years plus one 5 Year Option

3% per year; see Rent Schedule below

None

Rent Schedule* Monthly Base Rent

Building 2,494 SF

Commencement Date May 19, 2017

Tenant Beauty Systems Group, LLC d/b/a CosmoProf

Sally Holdings, LLC

Page 17: Alpharetta, GA 30022 770.481.1960 ...CosmoProf (guaranteed by Sally Beauty) recently signed a new 10 year lease; giving the center over 40% of it’s occupancy with 10 year leases

390 Barrett Pkwy, Kennesaw, GA 770.481.1960 | www.shanegroup.net

TOWN CENTER MALL SHOPS

See accompanying Confidentiality Statement.

INVESTMENT SUMMARY

AERIAL MAPS

SITE PLAN

PHOTOGRAPHS

RENT ROLL

FINANCIAL SUMMARY

TENANT OVERVIEW

LEASE ABSTRACT

RENT COMPARABLES

LOCATION MAPS

DEMOGRAPHICS

Termination Date

Term

Increases

Security Deposit

Year Annual Base Rent

1/1/15 to 12/31/17 $54,516

1/1/18 to 12/31/19 $56,788

1/1/20 to 12/31/22 $59,059

1/1/23 to 12/31/24 $61,331

Tenant Salon Suites, Inc.

Building 4,543 SF

Commencement Date October 14, 2001

Option 1 $4,921.58

December 31, 2019

Recently exercised a new 5 year extension plus one 5 year Option

Just over 4% on 1/1/18; see Rent Schedule below

$6,530.62

Rent Schedule Monthly Base Rent

$4,543.00

$4,732.29

$5,110.88

Options One 5 Year Option with increases per the schedule above

Taxes Paid by Tenant

Insurance Paid by Tenant

CAM Paid by Tenant; including a Management Fee & 5% Admin Fee

Utilities Paid by Tenant

Landlord Expenses Roof & Structure

Page 18: Alpharetta, GA 30022 770.481.1960 ...CosmoProf (guaranteed by Sally Beauty) recently signed a new 10 year lease; giving the center over 40% of it’s occupancy with 10 year leases

390 Barrett Pkwy, Kennesaw, GA 770.481.1960 | www.shanegroup.net

TOWN CENTER MALL SHOPS

See accompanying Confidentiality Statement.

INVESTMENT SUMMARY

AERIAL MAPS

SITE PLAN

PHOTOGRAPHS

RENT ROLL

FINANCIAL SUMMARY

TENANT OVERVIEW

LEASE ABSTRACT

RENT COMPARABLES

LOCATION MAPS

DEMOGRAPHICS

Subject

1 2

4

5

3

Comparable Centers

1: Main St. @ Town Center—87% Occupied

2: Town Center Oaks—92% Occupied

3: Esplanade @ Town Center—50% Occupied

4: Town Center Plaza—90% Occupied

5: Barrett Creek Plaza—100% Occupied

6: Walmart Town Center Shops—69% Occupied

6

Page 19: Alpharetta, GA 30022 770.481.1960 ...CosmoProf (guaranteed by Sally Beauty) recently signed a new 10 year lease; giving the center over 40% of it’s occupancy with 10 year leases

390 Barrett Pkwy, Kennesaw, GA 770.481.1960 | www.shanegroup.net

TOWN CENTER MALL SHOPS

See accompanying Confidentiality Statement.

INVESTMENT SUMMARY

AERIAL MAPS

SITE PLAN

PHOTOGRAPHS

RENT ROLL

FINANCIAL SUMMARY

TENANT OVERVIEW

LEASE ABSTRACT

RENT COMPARABLES

LOCATION MAPS

DEMOGRAPHICS

PROPERTY

Town Center Shops

390 Barrett Pkwy 25,005

Kennesaw, GA

Main Street at Town Center 113,615

440 Barrett Pkwy

Kennesaw, GA

Town Center Oaks 52,456

2615 George Busbee Pkwy

Kennesaw, GA

Esplanade at Town Center 39,000

2700 Town Center Drive

Kennesaw, GA

One large 10,000 SF vacancy asking $10

PSF and a few smaller spaces asking $16

PSF. Center is anchored by Longhorn

and is on the loop road around Town

Center Mall, but has no visibility to

Barrett Pkwy.

50%

$25 to $30 PSF

92%

Vacancy is on the rear lower level which is

not comparable. The upper level is 100%

occupied with rents from $25 to $30 PSF

on average.

Located adjacent to 575, but not directly

on Barrett Pkwy. Two vacant spaces; one

asking $17 and the other $19 PSF.

100%** Center is 100% occupied, including the

1 Year Seller Rent Guranty.

$10 to $16 PSF

BLDG. SQ. FT NOTES

$17 to $19 PSF

LEASE RATES

91%

OCCUPANCY

ASKING

1

2

3

Page 20: Alpharetta, GA 30022 770.481.1960 ...CosmoProf (guaranteed by Sally Beauty) recently signed a new 10 year lease; giving the center over 40% of it’s occupancy with 10 year leases

390 Barrett Pkwy, Kennesaw, GA 770.481.1960 | www.shanegroup.net

TOWN CENTER MALL SHOPS

See accompanying Confidentiality Statement.

INVESTMENT SUMMARY

AERIAL MAPS

SITE PLAN

PHOTOGRAPHS

RENT ROLL

FINANCIAL SUMMARY

TENANT OVERVIEW

LEASE ABSTRACT

RENT COMPARABLES

LOCATION MAPS

DEMOGRAPHICS

PROPERTY

Town Center Shops

390 Barrett Pkwy 25,005

Kennesaw, GA

Town Center Plaza 75,000

425 Barrett Pkwy

Kennesaw, GA

Barrett Creek Plaza 28,481

125 Barrett Pkwy

Marietta, GA

Walmart Town Center Market 57,217

2821 Chastain Meadows Pkwy

Marietta, GA

6 $18 to $20 PSF 69% Anchored by Wal-Mart Supercenter.

Several recent vacancies due to retailers

closing. Asking rents of $18 to $20 PSF.

5 $18 to $22 PSF 100% Anchored by Moe's, Buffalo Wild Wings

and Chase Bank. Recent leases done in

the $18 and $22 PSF range based on

location within the center. Center also

recently sold for $9.2mm.

4 $22 to $24 PSF 90% Marshalls, TJ Maxx and Homegoods

anchored center. Center is 227,000 SF

but shops are about 75,000 SF.

Comparables spaces to the Subject are

asking $24 PSF for a space out front

adjacent to Barrett Creek.

(shop space)

100%** Center is 100% occupied, including the

1 Year Seller Rent Guranty.

BLDG. SQ. FT OCCUPANCY NOTES

ASKING

LEASE RATES

Page 21: Alpharetta, GA 30022 770.481.1960 ...CosmoProf (guaranteed by Sally Beauty) recently signed a new 10 year lease; giving the center over 40% of it’s occupancy with 10 year leases

390 Barrett Pkwy, Kennesaw, GA 770.481.1960 | www.shanegroup.net

TOWN CENTER MALL SHOPS

See accompanying Confidentiality Statement.

INVESTMENT SUMMARY

AERIAL MAPS

SITE PLAN

PHOTOGRAPHS

RENT ROLL

FINANCIAL SUMMARY

TENANT OVERVIEW

LEASE ABSTRACT

RENT COMPARABLES

LOCATION MAPS

DEMOGRAPHICS

Any map description can be entered in here!

Subject

Page 22: Alpharetta, GA 30022 770.481.1960 ...CosmoProf (guaranteed by Sally Beauty) recently signed a new 10 year lease; giving the center over 40% of it’s occupancy with 10 year leases

390 Barrett Pkwy, Kennesaw, GA 770.481.1960 | www.shanegroup.net

TOWN CENTER MALL SHOPS

See accompanying Confidentiality Statement.

INVESTMENT SUMMARY

AERIAL MAPS

SITE PLAN

PHOTOGRAPHS

RENT ROLL

FINANCIAL SUMMARY

TENANT OVERVIEW

LEASE ABSTRACT

RENT COMPARABLES

LOCATION MAPS

DEMOGRAPHICS

One Mile Three Miles Five Miles Notes

2017 Population 3,781 56,889 177,820

2010 Population 3,271 50,815 162,911

5 Year Projected 4,061 61,283 189,629

Growth since 2010 15.59% 11.95% 9.15%

Projected Growth Over the Next 5 Years 7.41% 7.72% 6.64%

2017 Households 1,663 22,757 67,704

% Owner Occupied 43.30% 46.60% 58.00%

% Renter Occupied 56.70% 53.40% 42.00%

2010 Households 1,458 20,085 61,814

5 Year Projected 1,782 24,561 72,207

Growth since 2010 14.06% 13.30% 9.53%

Projected Growth Over the Next 5 Years 7.16% 7.93% 6.65%

2017 Average Household Income $75,976 $74,897 $86,407

5 Year Projected $87,391 $85,797 $97,522

Projected Growth Over the Next 5 Years 15.02% 14.55% 12.86%

2017 Atlanta Average Household Income $81,382

2017 Georgia Average Household Income $70,633

Employment & Establishments

2017 Employees/Daytime Population 11,785 62,904 118,490

2017 Total Establishments 734 4,190 9,516

White 55.30% 59.10% 64.60%

African American 26.30% 23.60% 20.30%

Hispanic Origin (Any Race) 10.10% 11.20% 12.00%

Native American / Alaskan Native 0.20% 0.40% 0.30%

Asian/Pacific Islander 11.10% 8.50% 6.70%

Two or More Races 3.70% 3.80% 3.40%

Other Race 3.30% 4.60% 4.60%

Race

Population

Households

Income

Five Miles is 6% higher than Atlanta Avg.

Five Miles is 22% higher than Georgia Avg.