QuikTrip - Marietta, GA (Atlanta MSA)
692 Powder Springs Street, Marietta, GA, 30064, US
₹739,375,000 | 536 m²
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 3975 Flat Shoals Parkway, Decatur, GA.
In June 2024, QuikTrip affirmed its long-term commitment to the Property by executing a new 10-year lease extension. The lease features over 9 years of lease term remaining, rent escalations in 2032 and every five years thereafter, zero landlord expense responsibilities, and seven, five-year renewal options.
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Attributes
Asking price
₹730,687,000
Cap rate
5.65%
WAULT
9.3 years
Lease type
Absolute Triple Net
Year built
2016
Building area net
544 m²
Land area gross
0.91 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, rent escalations of ±$2.54 PSF in 2032 and every five years thereafter, and seven, five-year renewal options
- Purpose-built for QT in the early 1990s and rebuilt in 2016 for QT's new "Generation 3" store
- Robust demographics with 184K population and 23% population growth since 2014
- Ideal Hwy-155 adjacency near the crossroad of 3 major expressways: Hwy-155, I-285, and I-20
- Large 2.26-acre site on a hard corner (42,200+ VPD) and one-half mile from I-285 (142,200+ VPD)
Contact brokers
QuikTrip - Decatur, GA (Atlanta MSA) (0 Properties)
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Last updated
23 Jan 2025
