Atlanta's most popular shopping malls, Phipps Plaza and Lenox. Square. It is surrounded by numerous Class A office build
NOW OFFERING
HYPER-CORE GROUND LEASE FUTURE REDEVELOPMENT OPPORTUNITY HIGH-DENSITY ZONING
Maggiano’s Ground Lease 3368 Peachtree Road Atlanta, Georgia 30326
3368 PEACHTREE ROAD | ATLANTA, GA |
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EXECUTIVE SUMMARY
Ackerman Retail, a division of Ackerman & Co., as the exclusive representative, is pleased to offer 3368 Peachtree Road for sale. The Property is situated on 0.97 acres in the heart of Atlanta’s exclusive Buckhead community.
3368 Peachtree Road is undoubtedly one of the best sites in Atlanta for future development. The Property is located next to the Buckhead MARTA (Metropolitan Atlanta Rapid Transit Authority) Station, the proposed main entrance to Park Over GA400, and in walking distance to two of Atlanta’s most popular shopping malls, Phipps Plaza and Lenox Square. It is surrounded by numerous Class A office buildings, hotels, restaurants and retail. The Property has a ground lease with Maggiano’s Holding Corporation, a subsidiary of Brinker International (NYSE: EAT) and a projected 2018 NOI of $455,194. The ground lease expires 12/31/22 and has five 5-year renewal options. The Property includes a 27,000± SF, two-story building with 4,000± SF of ancillary storage space below and 281 parking spaces.
INVESTMENT PROFILE Address: 3368 Peachtree Road Size:
27,000± SF on two levels plus 4,000± SF storage space below
Lot Size:
0.97 Acres
Year Built:
1996
Parking:
281
Tenant:
Offering Price:
Maggiano’s Holding Corporation, a subsidiary of Brinker International (NYSE: EAT) Market to Determine
2018 Annualized NOI:
$455,194
3368 PEACHTREE ROAD | ATLANTA, GA |
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INVESTMENT HIGHLIGHTS
Investment-Grade (Moody’s) Tenant with Below Market Rent – Maggiano’s Holding Corporation, a subsidiary of Brinker International (NYSE: EAT) has been in this location since it was built in 1996 and is currently on a ground lease that expires 12/31/2022. There are five 5-year options to renew at the end of the lease term.
3344 PEACHTREE RD
ATLANTA TECH VILLAGE
TOWER PLACE
Potential Infill Redevelopment – Long-term, the property is an excellent redevelopment opportunity for a high-rise office, hotel, residential or mixed-used building. The parcel, along with the rest of the Buckhead business district, is zoned SPI-12, a type of zoning the City of Atlanta created to promote development of dense, highly urbanized communities. SPI-12 zoning allows for considerable commercial and residential density to be added to the property in the future.
GA 400
BUCKHEAD
S TAT I O N
THE W HOTEL
Excellent Visibility and Access – The property sits on Peachtree Road, with traffic counts at 47,500 vehicles per day, in the heart of the Buckhead community.
SUBJECT PROPERTY
ATLANTA FINANCIAL CENTER
47 ,50 0A AD T
THE WESTIN
PE AC H
D TREE R
The property is adjacent to the Buckhead MARTA Station and in walking distance to Phipps Plaza, Lenox Square Mall and numerous high-end restaurants.
3368 PEACHTREE ROAD | ATLANTA, GA |
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INVESTMENT HIGHLIGHTS, CON’T.
High Connectivity – Direct access to MARTA and convenient access to State Route 400 provide connectivity to other parts of Atlanta, further increasing the desirability of the property. The property is also within walking distance to Path 400, a 5.2-mile greenway that connects residential and commercial neighborhoods of Buckhead and Park Over GA400, a proposed multi-modal, transit-oriented park to be located directly above State Route 400 and the nearby MARTA station. Continued Growth and Development – As Atlanta’s premier shopping district and an important business hub, Buckhead continues to be a popular destination for high-end retail, multifamily, office and mixed-use development. New projects include Three Alliance Center, Apogee Buckhead, The Huntley, Modera Prominence, AMLI Buckhead, Camden Buckhead and Gables Buckhead.
There are more than 32,000 multifamily and condo units in Buckhead with another 17,000 proposed or in development and lease up/sales phases.
Robust Commercial Corridor – The property is located in a highly developed commercial corridor in the heart of the
Within a 3-mile radius, there is a residential population of 117,855, a total daytime population of approximately 140,000 and an average household income of $137,167.
Buckhead business district. Many high-rise office buildings are located less than a mile from the property, including Terminus, 3344 Peachtree, Tower Place, One Alliance Center, Monarch Tower and Atlanta Financial Center. Several four- and five-star hotel offerings are also close to the property, including the Grand Hyatt, InterContinental, Mandarin Oriental and The Whitley. Additionally, Lenox Square, Phipps Plaza and The Shops Buckhead Atlanta – Atlanta’s three premier luxury shopping destinations – together with several high-end power and grocery-anchored shopping centers, provide one of the finest destination retail shopping experiences in the country.
3368 PEACHTREE ROAD | ATLANTA, GA |
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3344 PEACHTREE RD
MANDARIN ORIENTAL PIEDMONT CENTER TOWER PLACE REALM CONDOS
ATLANTA TECH VILLAGE
BUCKHEAD STATION
ATLANTA FINANCIAL CENTER SUBJECT PROPERTY
00 GA 4
BUCKHEAD
S TAT I O N
PEA
CH
TRE
ER D
THE W HOTEL
47,5 00 A ADT
PEACHTREE LENOX BUILDING THE WESTIN
KEVIN HERMETZ Senior Vice President
JIMMY STEVENS Senior Vice President
Ackerman Retail is a division of Ackerman & Co. GA #H-000028.
770.913.3942 |
[email protected]
770.913.3983 |
[email protected]
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