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Lake City Commons
Stabilized Grocery-Anchored Neighborhood Shopping Center

RealINSIGHT Marketplace and Mission Capital Advisors are pleased to offer the opportunity to acquire the fee simple interest in Lake City Commons (the “Property”), a 91,494-sf neighborhood community retail center located in Lake City, Clayton County, GA. Constructed in 1997, the improvements are situated on a 12.66-acre site zoned G-1, Gateway Village Development District.  As of the April 30, 2018 rent roll, the property was 98.03% occupied by a diverse mixture of local and national tenants.  Notable tenants include Kroger (anchor; recently executed 6-year extension with six 5-year renewal options), Dollar Tree, Cato, H&R Block, Metro PCS, and Pizza Hut. Per the terms of their lease renewal, Kroger has the option, and intends to build a gas station on the site at its own cost, further solidifying their commitment to the center long term. 456 parking spaces service the property for a ratio of 5.00/1,000sf.    

The Property is located in the city of Lake City, Clayton County, Georgia.  On the northeast corner of Jonesboro Road and Harper Road, the Property is less than a 10-minute drive (2-4 miles) from Interstates 75, 285 and 675.  Lake City is a southern suburb of Atlanta, GA., bounded by Forest Park to the west, Conley to the North, and Morrow to the south.  Lake City is located approximately 6.5 miles southeast of the Atlanta Hartsfield-Jackson International Airport.  The airport is located within the county lines of Clayton County.  The Central Business District of Atlanta is located approximately 14 miles north/northwest of the Property.

INVESTMENT HIGHLIGHTS

Credit-Rated Anchor Tenant - Kroger (NYSE: KRl Moody's Baa1; S&P: BBB) occupies 63,419 SF (69.3% of NRSF) and recently signed a six-year lease extension beginning July 1, 2018. Kroger has anchored the property since its construction in 1998. The supermarket sales have increased from $348 PSF in 2013 to $400 PSF for the lease year ending June 30, 2017.

Notable Tenants – The property is 98.0% leased and occupied by fourteen tenants, as of March 31, 2018. Anchored by Kroger, other notable tenants include Dollar Tree, Cato, H&R Block, Metro PCS and Pizza Hut.

Stabilized Rent Roll – The property has modest near-term rollover. The property is currently scheduled to have 5.7%, 12.1%, 3.0%, and 4.9% annual rollover in 2018, 2019, 2020, and 2021, respectively.
 

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CWCapital Markets and Mission Capital are pleased to offer Seller Approved Financing Options

Benefits include:

- Lender access to Property to conduct Lender Inspections and Third Party Reports

- Significant experience across the entire capital stack

- Unparalleled capital markets knowledge

- Development of the most creative financing strategies

- Established relationships with debt funds, insurance companies, investment banks,

       foreign and domestic banks, agencies and pension funds

- Provide clients with the most competitive terms and most reliable execution

 

How you receive these benefits:

1 - Contact (now): Steven Buchwald at 212-274-2035 or sbuchwald@missioncap.com

2 - Complete Finance Pre-Screening (before auction)

3 - Complete Debt Placement Agreement (before auction)

4 - Complete Bid Registration Process (before auction)

5 - Win Auction

6 - Fulfill Lender Checklist

7 - Close Loan

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MARKET LEADING MORTGAGE BANKING FIRM

Founded in 2002, Mission Capital Advisors, LLC is a leading national, diversified real estate capital markets solutions firm with offices in New York, Florida, Texas, California, and Alabama. The firm delivers value to its clients through an integrated platform of advisory and transaction management services across debt, mezzanine, and JV equity placement; commercial and residential loan sales; and loan portfolio due diligence and valuation. Mission Capital Advisors is extremely active in arranging financing for office, industrial, multifamily, retail and self-storage properties across the country.

Since its inception, Mission Capital has advised a variety of leading financial institutions and real estate investors on more than $65 billion of financing and loan sale transactions, as well as in excess of $14 billion of Fannie Mae and Freddie Mac transactions, positioning the firm strongly to provide unmatched loan portfolio valuation services for both commercial and residential assets. Mission Capital’s seasoned team of industry-leading professionals is committed to achieving clients’ business objectives while maintaining the highest levels of integrity and trust. For more information, visit www.missioncap.com.

Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.

Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.

You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.

Lake City Commons

5656 Jonesboro Road, Lake City, GA 30260

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Asset Snapshot

  • Asset Type
  • Real Estate
  •  
  • Retail Type
  • Neighborhood Center
  • Anchor
  • Yes
  • Property Size
  • 91,494 Sq Ft
  • Land Area
  • 12.66 Acres
  • Year Built
  • 1998
  • Number of Floors
  • 1
  • Number of Buildings
  • 1
  • Parking Count
  • 456
  • Occupancy
  • 98.00%
  • Occupancy as of
  • May 01, 2018
  • Platform Fee

    Platform fee for this transaction is 5.00% or a minimum of $25,000.

  • Auctioneer

    1. Lamar P. Fisher

      Fisher Auction Company Inc.

      License: #AUNR003157