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|Remaining Term||11 years, 6 months|
JLL is pleased to exclusively offer the opportunity to acquire a single tenant property leased to Academy Sports (the “Property”) in Douglasville, GA, a suburb of Atlanta. Academy Sports commenced their lease in May 2014 and recently extended their lease, demonstrating a commitment to the location. The company now has 11.5 years of remaining lease term. The lease features $0.50/SF rental increases nearly every five years, inclusive of the three (3), five (5) year options that remain.
Academy Sports is situated within the prime retail trade area in Douglasville. The 7.25-acre parcel is bordered by two main thoroughfares in Bell Arp Road (Highway 5) and Interstate 20, which boast more than 30,000 VPD and 85,000 VPD, respectively. I-20 also connects Douglasville to Atlanta, GA, ranging from six lanes to ten lanes wide. On either side of the two roadways are a host of nationally recognized tenants such as The Home Depot, Lowe’s, Sam’s Club, and At Home, further attracting consumers to the site.
- Academy Sports is operating on an attractive, 7.25-acre property with more than 11.5 years of remaining term and three (3), five (5) year option periods. The lease also features $0.50 PSF rental increases nearly every 5 years throughout the term and options.
- 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.
- A host of large, nationally recognized retailers are situated on the other side of Highway 5 and Interstate 20. The lineup includes tenants such as The Home Depot, Lowe’s, Sam’s Club and At Home, indicating the strength of the centralized location.
- The Property is only 30 minutes away from Atlanta Hartsfield-Jackson International Airport, which was ranked as the World’s #1 Busiest Airport by Airports Council International. The airport serves more than 107 million passengers annually and has earned the #1 spot for 22 consecutive years.
- Douglasville, GA is the county seat of Douglas County and a member of the greater Metro Atlanta. The MSA was ranked as the 9th largest MSA in the United States by population in 2019, housing more than 6 million people (US Census Bureau).