The 85,942-square-foot North Decatur Square in Decatur, Georgia, the retail component of a newly constructed mixed-use project, is on the market. The seller is targeting a sale price of $55 million, and Fain Hicks of Cushman & Wakefield has been retained to oversee sales efforts on behalf of the seller, Atlanta-based SJ Collins Enterprises.
The institutional-quality Whole Foods Market 365-anchored shopping center, built in 2018, is fully leased to 23 national and regional tenants including Jason’s Deli, Xfinity, Bad Daddy Burger, Hollywood Feed, Regions Bank, Big Peach Running and Cold Stone Creamery. The anchor tenant, Whole Foods Market 365, represents 41% of the retail GLA and is under a new 20-year lease terms with attractive 10% contractual rental increases every five years throughout the initial term and all option periods.
Located at the intersection of North Decatur Road and Church Street, the property is positioned with prime vehicular and pedestrian access, and shares a signalized access point with Emory Decatur Hospital. The property is located five miles east of Midtown Atlanta and serves a high-growth, affluent trade area encompassing downtown Decatur, Emory University, Emory Medical Campus and the Centers for Disease Control. North Decatur Square serves a daytime population of 160,503 residents within a three-mile radius.