Blue Group II, a private real estate investment fund affiliated with Hoffman United, has entered the Georgia market with the acquisition of a newly constructed, two-tenant retail property in Evans — a fast-growing suburb of Augusta.
The property is 100% occupied by Chipotle and Mattress Firm under long-term, corporate-guaranteed leases. Built in 2024, the center serves as the entrance parcel to Mullins Colony, a new shopping center in a growing retail corridor.
The Chipotle location includes a “Chipotlane,” the brand’s dedicated drive-thru format, and is the only Chipotle in Evans.
“This acquisition reflects the type of real estate we look for — newly constructed and positioned at the doorstep of a dominant retail trade area,” said Paul Hoffman, President of Hoffman United. “Chipotle and Mattress Firm are both operating at the top of their categories, and the long-term lease structures here give us the type of durable, growing income stream we prioritize.”
Positioned at the Entrance to One of the Region’s Busiest Retail Corridors
The property sits directly adjacent to Mullins Crossing, a 275,000 square-foot shopping center that drew approximately 5.8 million visits over the past 12 months. Mullins Crossing is anchored by Target, Kohl’s, Marshalls, Old Navy, Ulta Beauty, and Five Below, and is situated less than half a mile from other retail giants such as Publix and Home Depot.
The site also benefits from prominent frontage along Washington Road, the primary commuter thoroughfare connecting Evans to downtown Augusta, which carries approximately 32,000 vehicles per day. Washington Road is perhaps best known as the home of the famed Augusta National Golf Club and the Masters Tournament, located only 7 miles east of the newly acquired property.
Strong, Growing Demographics in an Award-Winning Submarket
Evans was named the Best Place to Live in America by Money magazine in 2020, and continues to draw residents with its highly rated public schools. Within a five-mile radius of the property, the trade area includes more than 132,000 residents with an average household income of $122,819 — both figures projected to grow over the next five years.
As Georgia’s third-largest city, Augusta serves as a regional hub for medicine, biotechnology, and cybersecurity, anchored by Augusta University, the Savannah River Site, and the U.S. Army Cyber Center of Excellence at Fort Eisenhower, a diverse employment base that continues to support residential and retail growth throughout the corridor.
Continuing Blue Group II’s Growth Strategy
The acquisition adds to Blue Group II’s growing portfolio of newly constructed, corporate-leased retail assets anchored by national credit tenants in high-growth Midwest and Southeast markets.
“We’re drawn to properties like this one: new construction, strong guarantors, and a location that benefits from being part of a high-traffic retail ecosystem,” Hoffman added. “It’s also a continuation of the diversification strategy that has defined this fund from the start: building a portfolio that draws its strength from multiple growing markets, which naturally reduces the risks of heavy concentration in any one region.”
About Hoffman United and Blue Group II
Hoffman United is a real estate investment and development company focused on creating long-term value through strategic acquisitions, development, and active asset management. Together with its affiliates, the company manages more than $125 million in residential and commercial real estate assets spanning eight states.
Blue Group II, Hoffman United’s second private real estate fund, is focused on acquiring high-quality, income-producing commercial (retail) real estate leased to nationally recognized tenants. Through an investment strategy emphasizing predictable cash flow, strong demographics, and long-term value creation, Blue Group II continues to build a portfolio of institutional-quality assets positioned to deliver risk-adjusted returns.
This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any securities. Any such offer will be made only through the fund’s confidential offering documents to qualified investors.
