Day Capital Pays Record Price for Three Southeast Cobb Acres

ATLANTA-Locally based Day Capital Partners has acquired a prime three-acre parcel in the Cumberland-Galleria area of southeast Cobb County from landowners George Johnson and Charlie Barton for $8.7 million or $2.9 million per acre ($66.57 per sf).

The transaction marks the first time land prices have topped the $2-million-per-acre level in Cobb County, area industrial brokers tell GlobeSt.com. A one-acre parcel on South Cobb Drive recently sold for $1 million or $2.30 per sf.

Robert Day, founder and president of Day Capital Partners, couldn’t be reached by GlobeSt.com’s deadline to learn what near-future plans his company has for the site at the northeast quadrant of Akers Mill Road and Cobb Parkway. However, sources close to the buyer tell GlobeSt.com Day plans a mixed-use project that could include residential, office, retail and hotel development.