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Shopping Strip

Ridgewalk Landing

285 & 289 Ridgewalk Pkwy, Woodstock, GA 30188

Listing Price: $10,339,344

Cap Rate
6.40%
Gross SF
18,460
Rentable SF
18,460
Price/Gross SF
$560.09
Lot Size
2.18 acres
Year Built
2021

Investment Overview

***Offered Individually or as a Portfolio. ARGUS files available upon request. Ridgewalk Landing Shopping Center is a 2-building retail shopping center development totaling ±18,460 square feet. Each of the buildings are 100 percent leased. The architectural design for each retail building is consistent with Class “A” construction with steel-frame infrastructure, exterior facades primarily utilizing brick and stone, and metal engineered awning systems. Building 285, which is a ±8,960 square foot retail building, is occupied by Your Pie, Nothing Bundt Cakes, and Piedmont Urgent Care. Building 289, which is a ±9,500 square foot retail building, is occupied by Tropical Smoothie Café, Noire Nail Bar, Bedzzz Express, and Xfinity. Each tenant has signed a 10-year base term lease with periodic rent increases and two (2), 5-year option periods. All of the leases have been structured as triple net (“NNN”) leases by design to allow for the full pass-through of operating expenses and to streamline the management process for each of the retail centers. The subject property was specifically selected for development because of the opportunity to be part of the Ridgewalk Master Development, a major mixed-use development encompassing 69 acres east of Interstate 575. The Outlet Shoppes at Atlanta, a ±370,000-square foot outlet mall located directly along Interstate 575 occupied by more than 100+ national brand-name tenants, was the first major project to open in the local market. Since the opening of The Outlet Shoppes at Atlanta in 2013, spurring demand in the surrounding area, new development growth along the Ridgewalk Parkway corridor has expanded at an unprecedented level. There have also been an estimated 260 custom homes and 600 apartments built or that are currently under construction. In 2018, Costco completed construction of a ±150,000-square foot store which is located directly across from Ridgewalk Landing offering at the intersection of Ridgewalk Parkway and Ridge Trail, a 4-way signalized intersection. The subject property is also located directly across from Woodstock City Church, a 176,000-square-foot campus of North Point Ministries that opened in 2011 and has more than 37,000 members throughout Atlanta.

Investment Highlights

  • Brand new two (2) building retail investment completed in 2021
  • 100% leased with 10-year NNN leases that contain rent escalations in both the base terms and option periods
  • Strategically located at the signalized intersection of Ridgewalk Parkway & Ridge Trail, with Ridgewalk Parkway being a 5-lane thoroughfare with barrier-free turning lanes
  • Strong traffic counts of ±91,500 VPD at I-575 & Ridgewalk Parkway and ±18,000 VPD at Ridgewalk Parkway & Ridge Trail
  • Located directly across the intersection from Costco Wholesale, a 153,272 SF facility that opened in 2018
  • Located less than half a mile from the I-575 exit ramp providing easy access from all Atlanta markets
  • Less than 0.3 miles from The Outlet Shoppes of Atlanta, a 370,000 SF retail development

Exclusively Listed By

Listing Price: $10,339,344

Cap Rate
6.40%
Gross SF
18,460
Rentable SF
18,460
Price/Gross SF
$560.09
Lot Size
2.18 acres
Year Built
2021

Investment Highlights

  • Brand new two (2) building retail investment completed in 2021
  • 100% leased with 10-year NNN leases that contain rent escalations in both the base terms and option periods
  • Strategically located at the signalized intersection of Ridgewalk Parkway & Ridge Trail, with Ridgewalk Parkway being a 5-lane thoroughfare with barrier-free turning lanes
  • Strong traffic counts of ±91,500 VPD at I-575 & Ridgewalk Parkway and ±18,000 VPD at Ridgewalk Parkway & Ridge Trail
  • Located directly across the intersection from Costco Wholesale, a 153,272 SF facility that opened in 2018
  • Located less than half a mile from the I-575 exit ramp providing easy access from all Atlanta markets
  • Less than 0.3 miles from The Outlet Shoppes of Atlanta, a 370,000 SF retail development

Investment Overview

***Offered Individually or as a Portfolio. ARGUS files available upon request. Ridgewalk Landing Shopping Center is a 2-building retail shopping center development totaling ±18,460 square feet. Each of the buildings are 100 percent leased. The architectural design for each retail building is consistent with Class “A” construction with steel-frame infrastructure, exterior facades primarily utilizing brick and stone, and metal engineered awning systems. Building 285, which is a ±8,960 square foot retail building, is occupied by Your Pie, Nothing Bundt Cakes, and Piedmont Urgent Care. Building 289, which is a ±9,500 square foot retail building, is occupied by Tropical Smoothie Café, Noire Nail Bar, Bedzzz Express, and Xfinity. Each tenant has signed a 10-year base term lease with periodic rent increases and two (2), 5-year option periods. All of the leases have been structured as triple net (“NNN”) leases by design to allow for the full pass-through of operating expenses and to streamline the management process for each of the retail centers. The subject property was specifically selected for development because of the opportunity to be part of the Ridgewalk Master Development, a major mixed-use development encompassing 69 acres east of Interstate 575. The Outlet Shoppes at Atlanta, a ±370,000-square foot outlet mall located directly along Interstate 575 occupied by more than 100+ national brand-name tenants, was the first major project to open in the local market. Since the opening of The Outlet Shoppes at Atlanta in 2013, spurring demand in the surrounding area, new development growth along the Ridgewalk Parkway corridor has expanded at an unprecedented level. There have also been an estimated 260 custom homes and 600 apartments built or that are currently under construction. In 2018, Costco completed construction of a ±150,000-square foot store which is located directly across from Ridgewalk Landing offering at the intersection of Ridgewalk Parkway and Ridge Trail, a 4-way signalized intersection. The subject property is also located directly across from Woodstock City Church, a 176,000-square-foot campus of North Point Ministries that opened in 2011 and has more than 37,000 members throughout Atlanta.

Exclusively Listed By

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