QuikTrip - Lawrenceville, GA (Atlanta MSA)_Property for Sale
QuikTrip - Lawrenceville, GA (Atlanta MSA)_Property for Sale
200 South Clayton Street, Lawrenceville, GA, 30046, US

QuikTrip - Lawrenceville, 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 200 S. Clayton Street, Lawrenceville, GA. The Asset features a corporate guaranty from QuikTrip Corporation.


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, contractual rent escalations of $2.48 PSF every five years (upcoming rent increase in May 2025), zero landlord expense responsibilities, and seven, five-year renewal options.


The Property is unique such that QT strategically acquired three contiguous parcels of land in 2013 and constructed its new store design, known as a “Generation 3” store, in 2014. QT’s “Gen 3” concept was a strategic initiative for an upscale customer experience by enlarging the store footprint, upgrading the exterior façade to appear restaurant-like and enhancing its full-service kitchen to offer QT’s expanded products in fresh, made-to-order food and drink.


Located ±32 miles northeast of downtown Atlanta in an affluent community whose average household income is $108,000+, the Property is positioned within a large 2.08-acre site on a hard corner at a prominent signalized intersection with access to over 198,000 residents in a five-mile radius. The area’s growth has been strong with 15% population growth since 2014. Notably, multiple large housing developments have delivered over the prior two years within a one-mile radius, adding 1,110+ apartments and homes to the area.


The Property is strategically located along a high trafficked intersection with 53,400+ VPD and is located only a few blocks south of Downtown Lawrenceville. The Property’s retail corridor performs well and is supply constrained with 3.2% vacancy and 24.2% rent growth since 2020. The area is home to top brands including Kroger, Big Lots, and LA Fitness as well as only two miles south of Gwinnett County Airport.


This opportunity allows investors the unique ability to acquire an essential retail asset located in an infill and fundamentally strong suburban Atlanta market, offering secure, long-term cash flow backed by a market leading tenant with brand name recognition.

...

Attributes

Asking price
€6,065,000
Cap rate
5.65%
WAULT
9.7 years
Lease type
Absolute Triple Net
Year built
2014
Building area net
531 m²
Land area gross
0.84 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
  • Brand new 10-year lease extension, growing cash flow with rent increases of ±$2.48 PSF every five years, and seven, five-year renewal options
  • Upcoming rent increase in May 2025
  • Purpose-built for the Tenant in 2014 for QT’s new “Generation 3” store format
  • Large 2.08-acre site on a hard corner & signalized intersection on Hwy-124 with 53,400+ VPD
  • The Asset is situated within a strong retail corridor with 3.2% vacancy and 24.3% rent growth since 2020
  • Ideally situated five blocks south of downtown Lawrenceville with developers recently adding 1,110+ multifamily units in the immediate area
  • Robust demographics with 198k population (15% incr. since 2014) and $108k avg. household income
QuikTrip - Lawrenceville, GA (Atlanta MSA) 4_Property for Sale
QuikTrip - Lawrenceville, GA (Atlanta MSA) 4_Property for Sale

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QuikTrip - Lawrenceville, GA (Atlanta MSA) (0 Properties)

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Last updated
12 Jul 2024