QuikTrip - Marietta, GA (Atlanta MSA)_Property for Sale
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 over 9 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.

Attributes

Asking price
THB 289,243,000
Cap rate
5.65%
Remaining lease term
9.3 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
  • Recent 10-year lease extension, rent increases of ±$2.60 PSF in Feb 2032 and every five years thereafter
  • 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
QuikTrip - Marietta, GA (Atlanta MSA) 4_Property for Sale
QuikTrip - Marietta, GA (Atlanta MSA) 4_Property for Sale

Contact brokers

Caroline Pinkston_Commercial Real Estate Broker
Caroline PinkstonSenior Director, Capital Markets
Alex Geanakos_Commercial Real Estate Broker
Alex GeanakosDirector, Capital Markets
Jeffrey Cicurel_Commercial Real Estate Broker
Jeffrey CicurelSenior Director, Capital Markets
Eric Osika_Commercial Real Estate Broker
Eric OsikaAssociate, Production Support, Capital Markets
QuikTrip - Marietta, GA (Atlanta MSA) (0 Properties)

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Last updated
22 Jan 2025