April 12, 2024 – Bob Horvath, Todd Tremblay and Chris King of Horvath & Tremblay have successfully completed the sale of a Mavis in Savannah, Georgia. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $2,991,452.
Mavis is located at 123 Jazie Drive in Savannah, Georgia. The new construction build to suit, single-tenant net-leased Mavis contains 6,800 square feet on a 1.25-acre parcel. Mavis has 19+ years remaining on their Absolute NNN Lease term with four (4), 5-year renewal options. The Lease calls for attractive 10% rent increase every five years throughout the primary lease term and at the start of each of the renewal options, providing a fixed increase in income and an attractive hedge against inflation. The Property is shadow anchored by Island Town Center, a Walmart and Publix Super Market anchored shopping center, and is situated along Jazie Drive in a heavily developed commercial district that is centered around the junction of US Highway 80 and Islands Expressway on the east-side of Savannah. The Property enjoys outstanding frontage and visibility from Jazie Drive and Charlotte Road and is 0.2-miles from US Highway 80, the area’s primary commercial and commuter corridor. The Property is 8-miles from Interstates 16 and 516 and is 10-miles from Tybee Island, one of the Georgia Coast’s most popular destinations. The Property is surrounded by national retailers, restaurants, and area schools that drive significant traffic to the area as well as a growing number of residential neighborhoods, providing a strong customer base.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.