Tobesofkee Crossing
Closed5581 Thomaston Rd, Macon, GA 31220
Property type
Retail
Price
Market to Determine
Building size
67,887 sf
Rentable area
67,887 SF
Year built
2020
Year renovated
Occupancy
Zoning code
Lot size
12.69 Acres
Sold/status
Sold · Date unknown
Property description
Franklin Street is pleased to present the opportunity to acquire the newly developed Publix anchored shopping center, Tobesofkee Crossing in Macon, Georgia. Macon is a metropolitan located 80 miles south of downtown Atlanta off I-75. The Macon metropolitan consists of 420,693 residents. The property consists of a strong mix of necessity based retailers and medical users located on a thoroughfare, which is less a mile from a I-475 exit. The site fills a void for Publix capturing the northwest quadrant of the Macon market and pulls from 25 miles to the west, as there is not another major competitor in that area. The immediate area has higher than market average household incomes of over $81,000 in the 5 minute radius of the property. The Publix in it's first year had over 800,000 annual visits, which will only increase as more shop space tenants open for business. Corporately, the fiscal 2020 sales came in at $44.9 billion, up 17.7% from $38.1 billion a year prior, and comparable-store sales surged 16% from fiscal 2019. Tobesofkee Crossing has excellent access off Thomaston Road and is located at a signalized intersection on the going-home side of the road. The property has an ideal street facing layout with national outparcel users, Taco Bell & soon to be named national tire company. The shop leases have scheduled rental growth annually or every five years to provide a strong hedge against inflation. The opportunity is offered free and clear of existing financing, providing an investor with an opportunity to secure historically low interest rates and favorable financing terms for high quality grocery-anchored retail centers.
Property highlights
- 67,887-SF New construction Publix-Anchored center in Macon, GA
- Stable rent roll with long-term leases in place - 14.5 weighted average lease term remaining across the property
- Diverse tenant mix of multi-unit restaurants and service tenants - Internet resistant tenancy
- High performing necessity grocer anchor - Publix the most sought after grocer in the Southeast bringing consistent traffic to the property
- Large trade area that extends up to 25 Miles to the West
- 57% of income base comes from Publix and 71% of the GLA
- Macon is one of the Top 15 Logistic Cities in the Southeast - Macon-Bibb County Industrial Authority reports 28 open projects with a potential investment of more than $600M and the addition of more than 4,800 jobs