Fort Oglethorpe, GA - Shoppes at Battlefield Parkway

Description:

SRS National Net Lease Group and IPG Shops are pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a 2-building, drive-thru equipped, multi-tenant retail investment opportunity in Fort Oglethorpe, Georgia (Chattanooga MSA). The offering features a diverse lineup of tenants including McAlister’s Deli, The Joint, and T-Mobile, which have approximately 6 years of weighted lease term remaining on their current leases. The buildings feature a state-of-the-art design and high-quality materials. Founded in 1989 and headquartered in Atlanta GA, McAlister’s Deli is a growing and popular fast-casual restaurant brand with over 500 restaurants in 28 states, making it the largest Focus Brand concept. With an average unit volume of nearly $2 million, McAlister’s Deli is on track to becoming a $1-billion-per-year brand in 2023 (TTM basis), according to Restaurant Business Magazine.

The subject property is strategically located along Battlefield Parkway, a major thoroughfare serving the Chattanooga MSA averaging 31,500 vehicles passing by daily. The site benefits from excellent visibility via significant street frontage and a large monument sign, and has multiple points of ingress/egress. The buildings are equipped with drive-thru lanes, providing ease and convenience for customers. In addition, the property is ideally situated in the heart of a dense, regional retail corridor, with numerous nearby national/credit tenants including Walmart Supercenter, The Home Depot, Lowe’s, Ross Dress for Less, Marshalls, Hobby Lobby, Publix, Walgreens, Aldi, and many more. Strong tenant synergy significantly increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by roughly 84,000 residents and 27,500 employees, providing a direct consumer base from which to draw.