Shopping Strip
Barclay Square
2526 Dawson Rd, Albany, GA 31707
Listing Price: $2,725,000
Investment Overview
BARCLAY SQUARE
• Barclay Square is a 20,200 square foot stabilized strip center located in the major retail corridor of Albany
• The strip center is 100% Leased to 3 tenants.
• Leasing momentum I 2 recent lease extensions and 1 new lease
• Long term upside in rent growth & reimbursement collections
VALUE-ADD | BELOW MARKET RENT
• 67% of tenant line up are on gross leases with 2 years remaining. Seller has opportunity to convert to NNN upon lease roll
• AVG. Rent: $12/SF I Market: $16/SF (Costar)
• Recent façade and roof upgrades have increased desirability for the shopping center, providing leverage for new buyer to negotiate higher rent with current or new tenants
STRONG TENANT HISTORY
• House of China has been at this location for 40 years
• House of China recently executed lease extension with annual increases
• Shoe Box has been at this location for 36 years
• Shoe Box recently executed lease extension with annual increases
• Bin Palace is a new tenant and executed lease with annual increases
• Bin Palace opened in March and has immensely increased traffic to the center
RECENT CAPITAL EXPENDITURES
• Recent seller capital expenditures included major roof repairs extending useful life, repositioning and raising up HVAC units, and repairing, relining, and recoating gutters. (2023)
• Seller made significant façade upgrades which also included reglazing storefront windows & repairing soffit
• Parking Lot Reseal (2023)
Investment Highlights
- Barclay Square
- Value - Add | Below Market Rent
- Strong Tenant History
- Recent Capital Expenditures
Exclusively Listed By
Financing By
Listing Price: $2,725,000
Investment Highlights
- Barclay Square
- Value - Add | Below Market Rent
- Strong Tenant History
- Recent Capital Expenditures
Investment Overview
BARCLAY SQUARE • Barclay Square is a 20,200 square foot stabilized strip center located in the major retail corridor of Albany • The strip center is 100% Leased to 3 tenants. • Leasing momentum I 2 recent lease extensions and 1 new lease • Long term upside in rent growth & reimbursement collections VALUE-ADD | BELOW MARKET RENT • 67% of tenant line up are on gross leases with 2 years remaining. Seller has opportunity to convert to NNN upon lease roll • AVG. Rent: $12/SF I Market: $16/SF (Costar) • Recent façade and roof upgrades have increased desirability for the shopping center, providing leverage for new buyer to negotiate higher rent with current or new tenants STRONG TENANT HISTORY • House of China has been at this location for 40 years • House of China recently executed lease extension with annual increases • Shoe Box has been at this location for 36 years • Shoe Box recently executed lease extension with annual increases • Bin Palace is a new tenant and executed lease with annual increases • Bin Palace opened in March and has immensely increased traffic to the center RECENT CAPITAL EXPENDITURES • Recent seller capital expenditures included major roof repairs extending useful life, repositioning and raising up HVAC units, and repairing, relining, and recoating gutters. (2023) • Seller made significant façade upgrades which also included reglazing storefront windows & repairing soffit • Parking Lot Reseal (2023)