ATLANTA-Raleigh, NC-based Rivercrest Realty Investors has acquired Plantation Heights, a 62,000-sf mixed-use development on Lenox Road in Buckhead, for $11.8 million. The seller was German-based 800 Corp. and local counsel Tom Harrold, of Miller & Martin PLLC.
The property is located on a 5.6-acre site and features ground-floor retail space and 33 second-story apartment units. It is 1.7 miles from Lenox Square Mall and Phipps Plaza, two strong shopping destinations, and is easily accessible to and from Georgia 400 and Interstate 85. There is a daytime population of 315,954 within a five-mile radius of the site and traffic counts of approximately 56,970 vehicles per day on Lenox Road south of the site.
The seller was represented by the Colliers Spectrum Cauble investment sales team of Joe Montgomery, Tony D'Ambrosio, Doug Alexander and Russ Jobson.
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