1575 Lexington Rd
Athens, GA 30605

Carmike | 1 Mile from Univ. of Georgia | Abs NNN Stan Johnson Company is pleased to offer for sale the fee simple interest in the commercial movie theatre located at 1575 Lexington Road in Athens, Georgia. The Property, a 12-screen cinema covering +/- 52,633 SF on +/- 11.48 acres, is fully guaranteed by publicly traded Carmike Cinemas, Inc. (NASDAQ: CKEC). Located roughly one mile from the University of Georgia, a 762-acre campus home to more than 35,000 students, the Property is the only movie theatre under a major banner within a nearly 40-mile radius. In 2015, the Property underwent a substantial renovation at Tenant' s expense that transformed it into an upscale theatre that now provides guests with unrivaled amenities. The Property is operating under a long-term 23-year Absolute NNN base lease with over 6.5 years remaining, as well as one, 7 year renewal option. Under the lease, the Tenant is responsible for all costs associated with taxes, insurance, maintenance and repair and capital expenditures. Carmike Cinemas, Inc. (NASDAQ: CKEC) is one of the industry' s largest operators with 273 theaters and nearly 3,000 screens across 41 states. The Property is roughly one mile from the University of Georgia' s (UGA) 762-acre campus and is easily accessible to its student population and personnel. UGA is the flagship university of the State of Georgia, home to an annual enrollment of more than 35,000 students and an academic staff of nearly 3,000. It is the 18th best public university as ranked in the 2017 U.S. News & World Report.