Mountain East Shopping Center
LA Fitness anchored center on busy corridor with immediate upside
Marketing description
TSCG, acting as exclusive agent on behalf of the Owner, is pleased to offer for sale a 100% fee simple interest in Mountain East Shopping Center in Stone Mountain (Atlanta MSA), Georgia. Mountain East totals 83,921 square feet of gross leasable area and is anchored by a thriving LA Fitness health club, which occupies 45,000 SF and received 300,000 visitors in the past twelve months. Additional national/regional tenants include Total by Verizon (new lease), Hair Clippers, Republic Finance and Athlete’s Foot. Mountain East was constructed in 1983 and renovated in 2012 (when LA Fitness replaced a Kroger store), is currently 89% leased and is being offered free of existing financing.
Mountain East Shopping Center is situated at the signalized intersection of Stone Mountain Highway (GA 78) – the primary retail corridor of the trade area – and East Park Place Boulevard. The Property is located 8 miles east of Interstate 285 and 2 miles from Stone Mountain Park, which receives over 4 million visitors annually.
Visit www.mountaineast-tscg.com for more information.
Investment highlights
• LA Fitness has operated at Mountain East since 2013
• LA Fitness has 300K visitors in the past 12 months, up 4.7% from prior year
• B1 Moody's credit rating and 550+ locations
• 9,240 SF of available space presents immediate upside opportunity
• 3-year CAGR of 3.7% and 5-year CAGR of 2.8%
• Situated on primary retail corridor of the trade area, Stone Mountain Highway (GA 78)
• 43,568 AADT at the intersection
• $116,000 Average Household Income and $74,704 Median Household Income
• Offered debt-free
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