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Five Guys & Bruxie, Chamblee (Atlanta MSA), GA

Five Guys & Bruxie, Chamblee (Atlanta MSA), GA


Investment Summary

Price $3,394,000
Cap Rate 6.50%
NOI $220,583
Lease Term 10 years
Lease Type Net lease, with tenant responsible for all taxes, insurance, and maintenance, excluding roof, structure, and parking lot
Rental Increases Various
Year Built 2020
Building Size Five Guys: 2,636 SF | Bruxie: 2,864 SF
Lot Size 3.437 acres (149,706 SF)
Status Available
Lead Brokers Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Vice Chairman
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Vice Chairman
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Margaret Jones
Senior Director
404.853.5395
margaret.jones@cushwake.com
GA RE License #325517

Lane Breedlove
Director
404.682.3421
lane.breedlove@cushwake.com
GA RE License #348239

Investment Highlights

100% LEASED MULTI-TENANT ASSET WITH RENTAL INCREASES
» 100% leased multi-tenant “Amazon-proof” asset
» 10-year initial lease for both tenants with scheduled rental increases, providing a hedge against inflation
» Five Guys has 1,700 + locations open worldwide, with 1,500 locations under development
» Since 2010, Bruxie has combined a friendly atmosphere with an innovative chef-driven menu that utilizes fresh ingredients, proprietary recipes, and creative culinary ideas
» Patio seating for added customer convenience

PROMINENT HARD CORNER LOCATION IN RETAIL CORRIDOR
» Ground floor location of a brand-new luxury apartment building, The Keswick (199 units), providing a stable customer base
» Prominent location at the signalized hard corner intersection of State Route 141/Peachtree Boulevard (39,700 AADT) and Clairmont Road (24,000 AADT), with excellent visibility and access
» Across from a Walmart Supercenter, the third-largest employer in the area, generating significant cross-traffic to the site
» Walking distance to a newly constructed Whole Foods (anchors shopping center)
» One-half mile from Chamblee MARTA Station (1,713 daily parking spaces) and 2.5 miles from Brookhaven-Oglethorpe MARTA Station (1,252 daily parking spaces)
» Four miles from Phipps Plaza (102 stores) and Lenox Square, the third-largest mall in Georgia (198 tenants, 1.5+ million SF of gross retail area)

DENSELY POPULATED COMMUNITY IN ATLANTA MSA MARKET
» Population of 313,580 within a five-mile radius (15 percent increase since 2010)
» Average annual household income of $151,517 within five miles and projected to increase 12 percent by 2028
» One mile from Dekalb-Peachtree Airport and 22 miles from Hartsfield-Jackson Atlanta International Airport, the busiest airport by passenger traffic in the United States, 104 million annual passengers
» Gateway to Buckhead/City of Atlanta (498,715 residents), the most populous city in Georgia

CENTRAL LOCATION NEAR LARGE SCHOOLS AND AREA ATTRACTIONS
» Chamblee High School (1,800+ students), is located less than one mile from the site
» Beneficial proximity to Oglethorpe University (1,452 students) and Mercer University Atlanta Campus (2,300 students)
» Near several hospitals including, Northside Hospital Atlanta (621 beds), Emory Saint Joseph Hospital (348 beds), and Children’s Hospital of Atlanta (273 beds)
» Metro Atlanta is the fourth-fastest growing region in the United States with six million residents. The U.S. Census Bureau projects that will increase to eight million people by 2040
» Atlanta is a top-10 educational market in the United States with over 50 colleges and universities with nearly 300,000 enrolled students annually
» The Atlanta metropolitan area features a global hub airport, a low cost of business and living, a strong base of Fortune 1000 headquarters, amenities like professional sports teams, and renowned museums and cultural institutions

Property Description

The property is located on the ground floor of a brand-new luxury apartment building, The Keswick (199 units), providing a stable customer base. The site is prominently located at the signalized hard-corner intersection of State Route 141/Peachtree Boulevard (39,700 AADT) and Clairmont Road (24,000 AADT), with excellent visibility and easy access. Additionally, the site is situated across from a Walmart Supercenter (the third-largest employer in the area) and within walking distance of a newly constructed Whole Foods anchoring a shopping center, generating significant traffic to the area. Strategically located within one of North Atlanta’s primary retail corridors, the property is immediately surrounded by a strong mix of national tenants such as Lowe’s, Starbucks, Texaco, Goodwill, BP, and many others. The site is in a densely populated and growing community. A total of 313,580 residents live within a five-mile radius (a 15 percent increase since 2010). Additionally, the surrounding area is affluent, with an average annual household income of $151,517 within five miles and is projected to increase 12 percent by 2028.

The location is three miles from Buckhead and 13 miles from the City of Atlanta (498,715 residents), the most populous city in Georgia. The site is conveniently located one mile from Dekalb-Peachtree Airport and 22 miles from Hartsfield-Jackson Atlanta International Airport, (the busiest airport by passenger traffic in the United States, 104 million annual passengers). Chamblee High School (1,800+ students), is located less than one mile from the site (increasing traffic in the immediate area), and the location features a beneficial proximity to Oglethorpe University (1,452 students) and Mercer University Atlanta Campus (2,300 students). The property is near several hospitals including, Northside Hospital Atlanta (621 beds), Emory Saint Joseph Hospital (348 beds), and Children’s Hospital of Atlanta (273 beds). Metro Atlanta is the fourth-fastest growing region in the United States with six million residents, with the U.S. Census Bureau projecting that will increase to eight million people by 2040. Atlanta is also a top-10 educational market in the United States with over 50 colleges and universities with nearly 300,000 enrolled students annually. The Atlanta metropolitan area features a global hub airport, a low cost of business and living, a strong base of Fortune 1000 headquarters, amenities like professional sports teams, and renowned museums and cultural institutions.

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