GBT Realty Corporation, a leading national commercial development company headquartered in Brentwood, Tenn., announces more retail for Atlanta South. The real estate company recently acquired a 7.6-acre site on State Route 20 west of Interstate 75 in McDonough, Ga. to bring another 71,000 square feet of retail, dining and service amenities to this booming market that is already home to notable national brands. GBT acquired the site on February 17 from OTS Capital and Masters Living Trust and expects to begin construction immediately.
“GBT is expanding our footprint in Georgia,” explains Jeff Pape, managing director of GBT’s shopping center division. “Atlanta South is really gaining traction with national names in retail and dining. Sales figures from those that already call Henry County and the Highway 20 corridor home validate not only the current demand but also the need for more options – particularly in the value retail arena.”
Anchored by Burlington, the $14 million shopping center site is nestled across from SouthPoint on McDonough-Hampton Road (SR 20) approximately .5 miles west of Interstate 75. Joining the leading off-price apparel and home product retailer is Tuesday Morningand Pet Supermarket. An additional junior anchor space and 6400 square feet are still available for local, regional and national retailers and service providers. The shopping center is slated for completion late this year.
“Names such as The Home Depot, Wayfair, Tory Burch and TSYS have recently announced or opened expanded operations in this market bringing hundreds – if not eventually thousands – of new jobs,” continues Pape. “Nothing says vitality than a market that is on a steady population and job climb. Henry County – and McDonough – are ideal platforms for retailer expansion as well as new local concepts.”
Currently, more than 65,000 consumers with an average household income of nearly $73,000 reside within five miles of McDonough Commons. Further, Henry County ranks seventh in number of households among counties in Atlanta’s 20-county region and is the eighth most populated in Georgia. The Atlanta Regional Commission forecasts that Henry County will have the highest percent change in population among counties in the region between 2000 and 2040 adding 239,000 residents and 64,000 new jobs.
About GBT Realty Corporation
Founded in 1987, GBT Realty Corporation develops virtually all types of retail and mixed-use developments throughout the United States from its headquarters in Brentwood, Tennessee, a suburban Nashville community. Since inception, GBT has been involved with the development, construction, leasing and management of over $6 billion of real estate totaling 35 million square feet of grocery-anchored, neighborhood and single-tenant retail; regional power centers; and mixed-use developments in 27 states. The team’s combined decades of experience with local, regional and national tenants includes such names as Academy Sports + Outdoors, Target, Hobby Lobby, Sprouts Farmers Markets, Publix Supermarkets, Walgreens, Kroger, Dollar General, Ross Dress for Less, Kohl’s, Bed Bath and Beyond, T.J.Maxx, Marshalls, PetSmart and Old Navy. Currently, the company has over $1 billion of commercial development totaling five million square feet in the pipeline or under construction by its shopping center, net lease and diversified development divisions. For more information visit gbtrealty.com.
