On behalf of Ownership, Jones Lang LaSalle America, Inc. (“JLL”) has been retained as the exclusive sales representative for Havertys Distribution Center (the “Property”) – an 807,990 SF infill bulk distribution center located in Braselton, Georgia. The Property is 100% leased to Haverty Furniture Companies, Inc. (NYSE: HVT | 2022 Rev: $1.05B) with 10.8 years of term remaining and an in-place rent that sits 40% below market, giving an investor the opportunity to acquire the asset well below replacement cost with major upside at rollover. The Property features 36' clear height, fully air-conditioned space and 180' - 190' truck courts. This site is a mission-critical build-to-suit for Havertys and their largest of seven distribution centers in the country.
The Property has high-visibility signage along I-85, providing direct access to Atlanta and the greater East Coast. The asset is surrounded by institutional ownership and robust credit tenancy including Amazon, Whole Foods Market, Williams Sonoma, FedEx, Petco, Carter’s, ULINE, and Hitachi. Braselton is the most infill bulk segment of the Northeast submarket and has high barriers to entry due to the limited industrial-zoned land. Braselton is part of the Northeast submarket, the largest submarket in Atlanta, and has been considered the most “Core” for multiple cycles. The Northeast submarket remains a significant driving force behind Atlanta's industrial market performance with over 2.8 MSF of leases signed in Q1 2023, representing 38% of the overall Atlanta market. The Northeast leads the market in construction activity with nearly 55% of Q1's speculative completions leased at delivery.
||In-Place Rent % Below Market
|1090 Broadway Ave, Braselton, GA
||10.8 Years (As of 7/1/23)