Titan Vanguard is pleased to announce the acquisition of 1815 The Exchange office building in Cobb County, Georgia. The building’s sole tenant is Hooters of America/HOA Brands and houses their corporate world headquarters. The property is located in the fast-growing Cobb County Georgia, near the new Truist Park Stadium, home of the Atlanta Braves major league baseball team.
The asset is situated on 1.6 acres and consists of approximately 21,000 SF of office space on two floors. The building has a glass exterior that imbues the property with natural light. We really are pleased to acquire this building at a compelling basis in a rapidly growing area such as the Galleria/Cumberland submarket of Atlanta. We are excited to have an asset in this area that will participate in the continued improvement and development of this submarket. Hooters represents a quality tenant with solid growth prospects and private equity backing. Hooters really struck us as an undervalued credit given their performance during the pandemic and their financial backing.
Hooters has been receiving a lot of praise as a top performing food chain during the pandemic. Their forward-thinking management were early adopters of third-party delivery services, positioning them better than most in the industry. They have also launched a new brand, Hoots™ Wings, which has commitments for over 180 new franchise locations to come in the next few years.