alpharetta, ga 30022 770.481.1960 ...cosmoprof (guaranteed by sally beauty) recently signed a new 10...
TRANSCRIPT
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
390 Barrett Pkwy, Kennesaw, GA 770.481.1960 | www.shanegroup.net
TOWN CENTER MALL SHOPS
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
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
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
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
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
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
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
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.
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.
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.
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
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
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
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
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
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
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
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
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
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.