Powers Ferry Center
Retail Stability | 1.25% CAP
Marketing description
The Powers Ferry Center is one of the first mixed use developments in Atlanta, well located in northwest Atlanta near the intersection of I-75 and I-285 and across from Wildwood. The immediate area is well established but has seen a resurgence due to the relocation of the Atlanta Braves baseball stadium and surrounding Battery Park, bringing many more people to the area to live and visit. There are over 216,000 people living within 5 miles of the property.
The subject property provides for immediate upside with leasing efforts on the office component being currently 14% occupied. There is also an additional building attached to the rear of the office built out at as event space and a fitness center, but neither are currently occupied. While the retail is 100% occupied, there is more upside with increasing the rents or replacing some of the current tenants over time to increase the rental income. There is also the potential to covert the office building to residential or more of a medical use.
Investment highlights
Huge upside value add opportunity with a mix of retail and office.
The retail portion of the property totals approx. 90,000 SF and is 95% leased.
The office portion of the property totals approx. 130,000 SF and is 14% leased.
There is a parking deck along with more surface parking, and an additional building attached to the office. This provides more upside as it is currently a vacant event space with the lower level being a vacant exercise facility.
Potential to convert the office portion to residential or a medical use.
Excellent visibility and centrally located at the corner of high-traffic Windy Hill Rd. (27,600 AADT) and Powers Ferry Rd. (35,188 AADT) with signage.
Over 216,000 people living within a 5-mile radius with an average household income of $138,602, which is expected to grow by 12% over the next 5 years.
Close proximity to the Atlanta Braves stadium and easy access to I-75.
Many national retailers in the area including Bank of America, Three Dollar Cafe, Dunkin', Starbucks, McDonald's, Chick-fil-A and many more.
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