QuikTrip - Marietta, GA (Atlanta MSA)_Property for Sale

692 Powder Springs Street, Marietta, GA, 30064, US

QuikTrip - Marietta, GA (Atlanta MSA)

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee-simple interest in a single-tenant QuikTrip gas & convenience store located at 692 Powder Springs St, Marietta, GA.

In June 2024, QuikTrip affirmed its long-term commitment to the Property by executing a new 10-year lease extension. The lease features ±10 years of lease term remaining, rent increases of $2.60 PSF in 2032 and every five years thereafter, zero landlord expense responsibilities, and seven, five-year renewal options.

Located ±16 miles northwest of downtown Atlanta in an affluent community ($106,000+ avg. HHI), the Property sits on a hard corner and only one mile south of the Historic Marietta Square in downtown Marietta. Dobbins Air Reserve Base anchors the area, which is one of only nine standalone Reserve bases in the Air Force Reserve that houses 2,000+ Air Force personnel.

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Attributes

Asking price

€7,682,000

Cap rate

5.65%

Remaining lease term

9.7 years

Lease type

Absolute Triple Net

Year built

2015

Building area net

536 m²

Land area gross

0.76 ha

Occupancy

100%

Media

Investment Highlights

Corporate guaranty from QuikTrip Corporation ("QT")
Among the largest c-store operators with 1,085+ locations and $11B+ in revenue
Absolute NNN lease structure with zero landlord expense responsibilities
New 10-year lease extension, rent increases of ±$2.60 PSF in Feb 2032 and every five years thereafter, and seven, five-year renewal options
Initially purpose-built for the Tenant in 1991 and completely rebuilt in 2015 for QT’s new “Generation 3” store format
Hard corner & signalized intersection on Hwy-124 with high traffic counts of 42,200+ VPD
207k population (15% incr. since 2014) and $106k avg. household income
Strong retail corridor with 3.9% vacancy and 23.0% rent growth since 2020