Mansell Square/CVS

Franklin Street is pleased to present Mansell Square Shopping Center in Roswell, Georgia. Mansell Square is a street front retail center in one of the most affluent parts of the Atlanta MSA. The center features recent upgrades including roof, paint & new tenant buildouts. The property benefits from strong ingress & egress, the center features two access points along Mansell Rd (36,000 VPD) with one lighted intersection. Roswell has experienced impressive growth and development over the years. Mansell Square is centrally located within the market, nearby national retailers include: Walmart, Lowes, Sprouts, Kroger, Aldi, Goodwill, Planet Fitness, Popeyes & Krispy Kreme among many others. There is a significant mark to market opportunity as leases rollover, as market rents for similar product is in the mid to upper $20 PSF NNN. This site was developed in 1998 for CVS and they have continued to operate here since and have exercised serval options at their contracted rent. CVS recently exercised a 5 year option renewal further showing their commitment to the site and do have another option remaining. This could potentially allow for a new investor to negotiate a new long term lease with CVS, as there is not another strong corner they could move to and today's cost of construction would cause the rents to be substantially higher than what they are paying here. The location's sales have been very strong nearing $10M providing a high likelihood of them staying. The location is within one of the most affluent suburbs of Atlanta with $230K household incomes in the 3 mile radius. Nearby daily driver retailers include Publix, Kroger, Chase Bank, Dollar General, McDonalds, Starbucks, among others. The roof was recently replaced and has a remaining warranty on it, while the tenant is fully responsible for CAM, taxes, and insurance.