Bizspace Property Spotlight is a new resource presented by the Atlanta Business Chronicle with Auction.com. This is your invitation to view some of Atlanta’s best available commercial spaces. Whether you’re looking to relocate your company, make an investment or just curious about the space, come take a look around. Click on the gallery image to view today’s featured space.
3855, 3865, 3875, 3885, 3925, 3950, 3960 Venture Dr, 2050 West Liddell Rd & and 3890 Satellite Blvd, Duluth, GA 30096
- Starting bid: $4,000,000
- Property Type: Retail
- Available SF: 335,151
- Lot Size Acres: 34.8
- Occupancy Percentage: 75
- Occupancy as of Date: 2/28/15
Auction.com, SRS Real Estate Partners and Lincoln Property Company present the opportunity to acquire Venture Pointe, multi-tenant power center consisting of eight 1-story buildings totaling 335,151 SF. The subject power center is well occupied and anchored by Kohl’s, Big Lots and Lumber Liquidators. The lead anchor, Kohl’s is leased through January 2022 and Big Lots is a new lease executed in 2013. The subject property is well located in an established retail corridor just off Pleasant Hill Road and only 0.2 miles from I-85. The property is relatively new, built in 1996 and has significant value-add potential. The buildings are constructed of steel framing and masonry.
The site improvements includes asphalt paved parking areas, curbing, signage, landscaping, yard lighting and drainage. The property contains approximately 1,881 surface parking spaces, reflecting an overall parking ratio of 5.61 spaces per 1,000 SF of gross leasable area. The subject property is located along Venture Drive between Steve Reynolds Boulevard and W. Lidell Road in the Duluth community of Gwinnett County. Additionally, this location is within the Peachtree corners/Norcross/I-85 retail submarket of the Atlanta metro area. The broader Atlanta retail market did not experience much change in the first quarter of 2015, but has been enjoying steady improvement over the past year. Overall retail vacancy declined to 8.3% from 8.4% in the prior quarter. The Gwinnett County submarket generally mirrors the broader market improvements with vacancy of 8.9% and asking rents of $12.37psf as of Q1 2015.
This property will be auctioned on Monday, July 20 – Wednesday, July 22. The price displayed is the starting bid amount of $4,000,000. For information and to register to bid on this property, please visit Auction.com.