(For more retail coverage, click GlobeSt.com/RETAIL.)
ACWORTH, GA-This Atlanta suburb of 20,000 residents has the distinction today of having recorded one of the highest per-sf prices for a retail property in the metro area this year.
Atlanta-based ACW-GA LP paid T-P Automotive, also of Atlanta, $1.55 million or $323.35 per sf for a one-year-old, 4,778-sf structure at 4434 Cobb Parkway NW (US 41). America's Service Station fully occupies the building on a 20-year absolute triple net lease.
The property sits on one acre and is adjacent to new retail construction that includes Bank of America, Royal Bank of Canada, Eckerd's and a Publix shopping center. Sperry Van Ness broker Michael Roberts in Mission, KS negotiated for the buyer. The seller represented itself.
Sperry Van Ness brokers also handled another unrelated sale in Atlanta. California-based DRKC Properties LLC acquired the 32-year-old, 34-unit New West End Apartments at 1135 Oakland Lane from KSSS Properties LLC for $1.2 million or about $35,294 per unit. The four-building property, on 1.5 acres, was 85% occupied at closing. The building has 34 two-bedroom, one-bathroom units with monthly rent from $475 to $550.
Del Creviston of Sperry Van Ness/Creviston Realty in Roswell negotiated for the seller. Rami Batarseh and Suheil Sahouna in the company's San Mateo, CA office represented the buyer.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
