The Shops at Fischer Crossings
Closed127 Fischer Crossings Blvd, Sharpsburg, GA 30277
Property type
Retail
Unit / Space count
3
Price
$6,535,455
Building size
9,010 sf
Rentable area
9,010 SF
Year built
2021
Year renovated
Occupancy
Zoning code
Lot size
1.39 Acres
Sold/status
Sold · Date unknown
Sale price
$6535455
CAP
5.50%
Net Operating Income
$359,450
Property description
Franklin Street is pleased to offer the opportunity to acquire The Shops at Fischer Crossings, located in Sharpsburg/Peachtree City, Georgia. Peachtree City and Sharpsburg are southern suburbs of Atlanta located just 25 miles from downtown, which caters to many of the employees of Hartsfield Jackson, the world's busiest airport. The area has seen substantial growth at the intersection where the property is located, and is expected to have over 1M SF of retail when fully built out in 2022. Anchoring the property is Costco, which is one of two Costcos on the southside of Atlanta. The next location being 28 miles away, giving this location substantial pull in the trade area. Next to Costco a new $50M retirement community is being constructed that will feature independent and assisted living and memory care, and will employ 120 people. Additionally, behind the property Kaiser Permanente is building a new 85,000 SF three story office which will employ 300+ people. Driving the retail growth is the affluent demographics in the area, with household incomes over $130,000 annually. The property is occupied by a mixture of medical tenants and a multi-unit nail salon. Peachtree Immediate Care is the leading urgent care network in the Atlanta area and is in partnership with Emory Health Network. The Emory Healthcare Network is a clinically integrated network through which they provide access to coordinated patient- and family-centered care. Pacific Dental Services (PDS) is one of the country’s leading dental support organizations. PDS plans on opening 150 new supported offices during the next two years.
Property highlights
- New construction 3-tenant strip center in affluent Atlanta suburb
- Long term leases with rental increases in place: 10 & 11 Year leases from each tenant
- Extensive tenant investment into their spaces from the medical users: Pacific Dental & Peachtree Immediate Care
- Large trade area: Only Costco location for 28 miles
- Major retail intersection with the likes of Costco, Sam's Club, NCG Cinemas, and soon to be developed 96,800 SF grocery anchored shopping center
- Ideal demographics: 90,000+ residents with 15 min drive and $130,000+ household incomes
- Located 1 mile from Peachtree City's major retail intersection: The Avenues, Home Depot, Walmart, TJMaxx, Home Goods, Best Buy, Michaels, Aldi, Petsmart, among many others