Amici 13500 Town Center Dr

Investment Highlights

Outparcel to Publix-Anchored Covington Town Center - $350M 180-Acre Master-Planned Development Brand New Build-to-Suit Significant Population Growth 15-Year Absolute NNN Lease Massive Industrial Investment by Major Employers in Immediate Trade Area Highly Successful Operator

Executive Summary

Founded in Madison, Georgia, Amici is a popular pizza chain with a 30-year operating history. It currently has 14 locations in Georgia and South Carolina with continued plans for expansion. Amici is operating under a brand new, 15-year lease with two (2), five (5) year option periods and zero landlord responsibilities. The Property is a brand new build-to-suit for Amici featuring 2023 state-of-the-art construction and the latest standalone prototype.The property is an outparcel to a publix-anchored Covington Town Center. The center is a highly anticipated mixed-used development featuring dozens of national and regional retailers, several restaurants, office space, three hotels, 267 townhomes, a 350-unit apartment complex, and a 29-acre greenspace. The first phase delivered in early 2023, with the opening of Publix, Residence Inn, Panda Express, and additional retail. Once complete, Covington Town Center will be a premier regional shopping destination that is expected to receive 34,000 visits per day. The Property is also ideally positioned on a hard corner lot at the intersection of Alcovy Road and Buttonwood Lane with two (2) points of ingress and egress. Additionally, the Property is situated less than one (1) mile from the on-ramp for Interstate 20 (? 58,800 VPD).

• Sale Type    Investment
• Sale Condition    Build to Suit
• Property Type    Retail
• Property Subtype    Restaurant Restaurant General Retail Freestanding General Retail Restaurant Restaurant
• Building Size    5,696
• Year Built    2023
• Price    3,660,085
• Price Per SF    643
• Cap Rate    7
• NOI    256,206
• Tenancy    Single
• Building Height    1 Story
• Building FAR    0.10
• Land Acres    1.32 AC