Market Square
Closed9559 GA-5 , Douglasville, GA 30135
Property type
Retail
Unit / Space count
18
Price
Market to Determine
Building size
116,766 sf
Rentable area
116,766 SF
Year built
1984
Year renovated
Occupancy
97.26%
Zoning code
Lot size
10.51 Acres
Sold/status
Sold · Date unknown
CAP
9.71%
Net Operating Income
$1,513,985
Property description
Franklin Street is pleased to present Market Square, a highly visible, 116,766-SF retail center in Douglasville, Georgia. Douglasville is an Atlanta suburb conveniently located 20 miles west of Downtown Atlanta down Interstate 20. Douglasville is a small town full of charm with easy access to the Atlanta Airport and Six Flags Over Georgia, one of the most visited destinations in the state. Douglasville offers the largest shopping mall in west Georgia that is less than a mile from the property, Arbor Place Mall, and home to retailers Macy's, Dillard's, JCPenney, Ulta, Regal, Conn's Home Plus, Old Navy, Overstock Furniture, among many others. Douglasville has experienced continued growth due to its convenient access to I-20 and proximity to Atlanta. Many major new industrial developments have been built along the interstate increasing local employment numbers and several major new data center campuses have been announced, including the new 1.7M SF data center development being built by Vantage Data Centers in Douglasville. The Atlanta metro has continued to be one of the fastest growing in the country and added an additional 80,000 residents in the past year to push the population over 6.2 million residents. Such growth has led to continued expansion in cities such as Douglasville. Market Square is located just off an Interstate 20 exit on GA 5, which is a main retail thoroughfare for Douglasville, with major big box anchors Walmart, Sam's Club, Home Depot, Publix, Kroger, At Home, and Academy Sports. Across the street is a recently redeveloped former K-Mart center with new additions Home Goods, Bealls, Burlington, and Tile & Stone Express. Market Square is located at a lighted intersection of Douglas Blvd & GA 5 with a combined 48,553 VPD and 6 access points off those two roads. Cohesive, non-owned, outparcel users to the center include McDonald's, Popeyes, and Steak 'n Shake. Market Square is an established retail center with national names such as Aaron's, Davita Dialysis, Pet Supermarket, AT&T, Subway, YouFit, Xhale City, Touchdown Wings, and other local and regional operators servicing the surrounding area. The majority of the anchors in the center have 4+ years remaining on their lease terms and are at rent levels lower than what recent box deals in the market have been signed at, allowing for downside protection for a new investor in the center. The property has been institutionally owned and operated by the same ownership group for 15+ years and has a strong maintenance history. As a future benefit, the property falls in a new zoning overlay which will allow for densification and eliminate parking minimums.
Property highlights
- Atlanta Metro 116,766 SF Anchored Retail Center Conveniently Located Off I-20
- Excellent Visibility Off GA 5: 31,953 VPD
- Durable Income Stream: 4.3 WALT
- Regional Access Via I-20 (87,300 VPD)
- Replaceable Rents: Ability to Drive NOI Growth with Projectable 10-Yr NOI Growth ~36%
- Strong National Discount Retailers: Aaron's, YouFit, Pet Supermarket, Davita Dialysis, Among Others
- Surrounded by National Big Box Retailers, Driving Additional Daily Traffic to Corridor
- Growing Population With Accretive Demographics For The Retailers in the Center
- Institutionally Owned and Maintained