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Newmark Grubb Knight Frank, as exclusive advisor, is pleased to offer Pleasant Hill Plaza, an ASSI Supermarket shadow-anchored shopping center containing 99,052 square feet located in Duluth, GA.
Pleasant Hill Plaza
1630 Pleasant Hill Road | Duluth, GA 30096
Pleasant Hill Plaza | Duluth, GA 9
Location
Pleasant Hill Plaza
Pleasant Hill Plaza
Location Highlights • Located within close proximity to I-85, I-985 and Hwy
316 major north/south thoroughfares. • Pleasant Hill Plaza sits in the heart of Gwinnett
Place’s retail node in Duluth, GA – an affluent section of Atlanta.
• The property is well-traveled at approximately 72,032 vehicles per day.
Pleasant Hill Plaza
Size: 99,025 SF (219,025 SF including ASSI)Occupancy: 72%Anchor Tenants: ASSI (Shadow-anchored – not included) Dollar TreeNational / Regional Tenants: North Georgia Urgent Care, Atlanta Mission Thrift Store, Hippo Hop, Metro PCSYear Built: 1989Acreage: +/- 8.7 AcresPricing: Unpriced
Economics
In-Place Stabilized
Total Base RentalRevenue $771,564 $1,115,696
Expense Recovery $194,184 $289,441
General Vacancy - ($136,659)
Effective GrossRevenue $965,748 $1,268,479
Operating Expenses ($288,840) ($310,173)
Net OperatingIncome $676,908 $958,306
Assi space is unowned and not included in offeringAssi space is unowned and not included in offering
Procuring broker shall only be entitled to a commission, calculated in accordance with the rates approved by our principal only if such procuring broker executes a brokerage agreement acceptable to us and our principal and the conditions as set forth in the brokerage agreement are fully and unconditionally satisfied. Although all information furnished regarding property for sale, rental, or financing is from sources deemed reliable, such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof and it is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice and to any special conditions imposed by our principal.
Pleasant Hill Plaza | Duluth, GA 13
Pleasant Hill Plaza
Gwinnett Place Mall
Heavily-Retailed Trade Area
Pleasant Hill Plaza
The OpportunityPleasant Hill Plaza offers investors an opportunity to acquire a value-add oriented retail center shadow anchored by ASSI Supermarket (a grocer which caters to the immediate area demographics) in Duluth, GA - Atlanta MSA. The property features several national retailers and offers significant upside.
ASSI Brand AnchorASSI Supermarket is a household name in the Korean community and one of the major Korean/Asian grocers with 15 locations in the US. The ASSI grocer is the most appropriate anchor to the demographics and fuels traffic and sales to the neighboring tenants.
Dominant Korean/Asian CommunityPleasant Hill Plaza is located in the Duluth/Gwinnett Place submarket; one of the most affluent areas in the State of Georgia. The area has a significant Korean & Asian community which is well educated and intimately familiar with the Gwinnett retail market.
High Traffic CountsThe property is located in one of the most well established retail nodes in all of suburban Atlanta. The Pleasant Hill Road location offers high traffic counts of 72,032 ADT.
Upside in Lease-up / RepositioningPotential investors enjoy the opportunity of upside in the lease-up of 27,265 SF of vacant space. Furthermore, an investor will benefit from the flexibility of upside in a redevelopment/repositioning play. The Center can be acquired below replacement cost.
A Dominant Retail LocationImmediately accessible from Pleasant Hill Road, the property is within one mile of I-85 interchange. The property is located in one of the most well established retail nodes in all of suburban Atlanta.
2010 Total
2015 Projection
Average Household Income
2010 Totals
Median Household Income
2010 Totals
Demographics
Population 1 Mile 3 Mile 5 Mile
14,567
15,640
$67,735
$59,015
96,047
102,348
$78,442
$66,890
233,390
248,860
$89,487
$74,636
J. MARK HILLIS 404.926.1129 [email protected]
FRED VICTOR 404.926.1141 [email protected]
C. WHITNEY KNOLL 404.926.1139 [email protected]
JASON ARCHER [email protected]
DANIEL YI 404.513.9099 [email protected]
NANCY DELGADILLO 404.552.2425 [email protected]
