Case Study

Investment Properties Group sells Felton’s Crossing in Cartersville, Ga.

SRS’s Investment Properties Group garnered eight offers from reputable buyers using its proprietary wide scale marketing platform, and after one Best and Final round, selected the most capable buyer at the highest potential price. The due diligence and closing process went very smoothly, and the transaction was successfully executed in an expedited time frame.

Deal Strengths

  • Anchored by Ingles with term through 2025 and Ingles Gas Express under construction at the property
  • Tenant roster comprised of 92% national tenants with a 77.8% national anchor base
  • Since 2010, Ingles has reported year-over-year sales growth averaging 4.5% per year with 6.17% year-over-year growth in 2015

Deal Challenges

  • New roof required over a large portion of the shopping center
  • Cartersville is a suburban location which serves as a bedroom community for Atlanta
  • Only right-in/right-out access to main entrance from frontage road

 

Overview

ASSET SOLD

Community Center

ANCHOR TENANTS
  • Ingles
  • Planet Fitness
SALE PRICE

Undisclosed

NATIONAL/REGIONAL TENANTS
  • Pet Supermarket
  • Domino's Pizza
  • Springleaf Financial
  • Direct General
  • Armed Forces Career Center
SALE DATE

October 5, 2016

TOTAL GLA

112,240 +/- SF

LAND

10.94 +/- AC

OCCUPANCY

96.08%

YEAR BUILT/RENOVATED

1984 & 1999/2015

 

 

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