The transactions include the sale of 31 acres at the southwest quadrant of Interstate 85 and Georgia 20 in Gwinnett County to BrandsMart USA. The seller, auto dealer Bill Heard Enterprises, received $15.3 million in the deal, or roughly $500,000 per acre. BrandsMart, a consumer appliances and electronics retailer, plans to build its fourth local store at the site.
ALG also represented a private investment group in its $14.8-million purchase of 137 acres from Craven Pottery at the US 441 interchange with I-85 in Commerce, a Jackson County suburb that is an emerging corridor for big-box retail. The transaction marks the largest land deal so far this year in the I-85 corridor north of the Mall of Georgia.
In West Point, hotel developer Nimish Inc. bought four acres for $870,000 at I-85 and Kia Boulevard, where an interchange is scheduled for completion by the end of this year. ALG represented Nimish, which plans to build a 120-room Holiday Inn Express and an upscale suites hotel next year near the site of a new Kia Motors Corp. automotive plant.
"We continue to see strong demand for metro Atlanta and north Georgia parcels as the region maintains vibrant growth," Robert Armstrong, ALG president and co-founder, stated in a release. "Retailers, developers and investors can envision and unlock the possibilities and opportunities that these tracts offer."
ALG has been in business since 1999 and specializes in marketing developed and undeveloped property within metropolitan Atlanta and surrounding areas of the Southeast. Property types cover all sectors of commercial real estate in urban and rural communities.
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