Price: $6,681,451 | Cap Rate: 8.75%
JLL is pleased to offer for sale the fee-simple interest in two freestanding medical office buildings both leased by ADG, LLC d/b/a Great Expressions Dental Center (GEDC), located along Highway 54/Lanier Avenue (24,000 VPD) in Fayetteville, GA (Atlanta MSA). The tenant has 5.1 years of lease term remaining, with 2.25% annual rental escalations on an Absolute NNN lease with no landlord responsibilities. Great Expressions Dental Center is currently only operating in “Building 2” while “Building 1” is dark. Building 2 is 11,852 SF, while Building 1 is 10,161 SF. The Asset is located along Highway 54/Lanier Avenue, a main east-west thoroughfare through Fayetteville with traffic counts in excess of 24,000 VPD. The Asset is strategically positioned within close proximity to other major medical centers in the area, and adjacent to a brand new multi-family development with 210 beds and 316 units. The Asset is located 23 miles from Downtown Atlanta.
Investment Highlights
- Absolute NNN lease with no landlord responsibilities
- 2.25% annual rental increases
- Potential upside with lease-up of vacant building
- Tenant operates over 300+ locations and is subsidiary of Roark Capital Group
- Frontage & Visibility from Highway 54 / West Lanier Avenue
- Located in Fayetteville, GA and county seat of Fayette County, Georgia which is becoming the “Hollywood of the East”
- Close proximity to other major medical centers and adjacent to a brand-new multifamily development with over 210 beds
Contact Information
Taylor Wolfes
+1 404 995 2275
taylor.wolfes@am.jll.com
Eric Suffoletto
+1 617 316 6479
eric.suffoletto@am.jll.com
Peter Furest
+1 212 812 5802
peter.furest@am.jll.com
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