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Cedar Creek - Atlanta

2306 S. Stone Mountain Lithonia Rd, Lithonia, GA 30058
Availability: Offering Price:$2,660,000 Size:46,420 SF
Shipping: Institutional Property Advisors, a division of Marcus & Millichap, is pleased to present for sale Cedar Creek, Atlanta.
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Description





Agents

BEN TASHAKORIAN | SENIOR MANAGING DIRECTOR INVESTMENTS


Senior Director: Institutional Property Advisors (IPA)
License: CA 01333884
Dir: (858) 373-3176
Fax: (858) 373-3110
btashakorian@ipausa.com

Scott Hilmen | Associate


Member: NOIPG
License: CA 01960113
Cel: (619) 665-0671
Dir: (858) 373-3123
scott.hilmen@marcusmillichap.com

Description

Institutional Property Advisors, a division of Marcus & Millichap, is pleased to present for sale Cedar Creek, Atlanta. The property is comprised of five buildings, an office-warehouse building, an additional warehouse, and three auxiliary buildings being used at shop space and storage space. The entire offering is situated on 10.72 acres of land. Since 2014, more than $900,000 in tenant improvements has been spent on the property, including a new office build-out in the lobby, new HVAC units, and new plumbing and electrical systems. On the exterior, new roll up doors in the warehouse have been added as well as an extension of the fenced yard.

As part of the Charlesbank private equity portfolio and alongside other nationally recognizable brands such as Del Taco, Sealy and Penske Auto Group, Cedar Creek is the third largest wholesale distributor of building materials to lumber yards and the largest distributor of cedar products in the nation. Beginning as one yard in Tulsa, OK, in 1977, the company has since expanded its operations to 31 distribution and custom milling facilities and today provides services to more than 30 states across the Midwest and Southeast and Mid-Atlantic.

Features

  • Approximately 12.5 years remaining on an absolute NNN lease
  • Cedar Creek is a leading wholesale building materials distribution company with 30+ locations nationwide
  • Property comprised of 5 buildings comprising 46,000 SF of warehouse, office, shed and shop space
  • $900,000 in tenant improvements since 2014
  • Brand-new HVAC, ceramic tile, plumbing and electrical units
  • Installed new roll-up doors and security fencing

Offering Price

$2,660,000

Building Size

46,420 SF

Cap Rate

6.00%

Price Per SF

$57.30

Year Built

2002 / 2014

Years Remaining

12+ Years

Lease Type

Absolute Net

Details

  • 22932236
  • Industrial
  • Offering Price:$2,660,000 Size:46,420 SF
  • New

Shipping Information

  • Item Requires Shipping
  • Institutional Property Advisors, a division of Marcus & Millichap, is pleased to present for sale Cedar Creek, Atlanta.

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