DEALS

Deals

Lakeshore Crossing – Gainesville, GA

The Palomar Group is pleased to present Lakeshore Crossing For Sale. Lakeshore Crossing is a ​123,948sf Lowe’s Home Improvement Center with two small shops. Lakeshore Crossing is located within the Atlanta MSA in the retail epicenter of Gainesville, GA. It is a shadow center to a strong performing Wal-Mart Super Center, Target, and the Lakeshore Mall. Gainesville, GA is one of the fastest growing cities in America with a population growth of over 18%. This asset provides a Buyer with minimal responsibilities as Lowe’s handles all of the CAM for the site. ​

 

PROPERTY HIGHLIGHTS:

  • NOI: $689,000
  • 123,948sf
  • 23 years operating history at this location
  • 93% of gross rents come from Lowe’s
  • Lowe’s is responsible for contracting and billing for CAM
  • Shadow Center of Wal-Mart Supercenter with strong sales history
  • New roof installed in 2011 with 15 year warranty
  • Only Lowe’s location in the Gainesville Market
  • Annual NOI growth starting in year 1
  • Below market rental rate for Lowe’s and small shops
  • Neighborhood Lakeshore Mall recently brought in Dick’s Sporting Good and is scheduled for redevelopment