Property tours are available by appointment ONLY. Please contact Rush Bradley to schedule a site tour at rbradley@lavista.com or 678.644.8322. Investment Highlights: Retail Center in Atlanta MSA with strong cash flows Value-add opportunity through lease up and increasing rental rates Established tenants - 4 tenants have been there since 1991 or earlier Growing Kennesaw market with proximity to Kennesaw State University (3rd largest in Georgia) Located across from new, high-end, 245-unit student housing project (West22) Located less than 2 miles from Interstate 75 at Wade Green interchange Many national retailers nearby including Kroger, Home Depot, LA Fitness, and Publix Busy retail corridor with strong traffic count, above average HH income, and dense demographics Investment Overview: Kennesaw Promenade is a ±28,084 SF retail center located at 3600 Cherokee Street in Kennesaw, GA (Atlanta MSA). The Property offers investors strong cash flow with a value-add opportunity through lease-up of the available ±3,276 SF at market rates and through future increases of rental rates. The Property is currently ±88.3% occupied by a mix of local and national tenants including Pizza Hut (±5.2% of GLA), Allstate Insurance (±2.6% of GLA), Kennesaw Billiards (±33.6% of GLA), Computers R Us, Lucky China, Hollywood Cutz, Cloud 9 Smoke Shop, Kennesaw Dental Associates, El Ranchito Grocery, Day Nail Salon, Magnolia Station Hair Salon, A-1 Driving School, and Gina Dry Cleaners. There are currently 3 vacant retail units ranging in size between ±720 – 1,836 SF allowing for immediate value-add through lease-up at market rates. Situated on a ±2.71 AC parcel, Kennesaw Promenade was originally built in 1985 and bought by current owner in 2014. The building has undergone extensive CapEx including in 2015 stucco repairs, a complete paint renovation, and landscaping work; and in 2016, the parking lot was seal-coated and re-striped and new parking lot lights installed. Located in Cobb County, Kennesaw, Georgia is a premiere destination for families and businesses looking to relocate in the Atlanta metropolitan area. The city’s approximate 32,000 residents enjoy Kennesaw as a great place to live, learn, work and play. Situated on Cherokee Street, near the primary intersection of McCollum Parkway, Kennesaw Promenade offers excellent visibility on a heavily traveled commercial corridor in the Kennesaw submarket. According to the 2017 AADT Traffic Counts, approximately 35,100 cars travel past the property on Cherokee Street as part of their daily route. Kennesaw Promenade is surrounded by many national retailers including Kroger, Home Depot, LA Fitness, Publix, and many more. The Property is also within a two-mile radius of growing Kennesaw State University (KSU), which is the third largest university in Georgia enrolling ±35,000 students. Kennesaw Promenade sits directly across a new student housing facility called West 22, which offers both cottages and manors as well as great amenities for students and continuously drives traffic to the center. This opportunity gives potential investors the ability to acquire a well-situated asset in a heavy retail node within the Atlanta MSA with value-add potential and long-standing tenant history. This property will be auctioned on Monday, July 24 - Wednesday, July 26 . The price displayed is the starting bid amount of $1,000,000. For information and to register to bid on this property, please visit Ten-X.com.
