ATLANTA—Brookside Shopping Center, an unanchored center in the Atlanta submarket of Alpharetta, GA, has traded for one of the highest prices per square foot in Metro Atlanta since the downturn in the commercial market in 2008.
Mac McCall of Franklin Street Real Estate Services represented the seller, a shopping center owner in Atlanta. The buyer, an investment company in Atlanta, assumed an existing CMBS loan on the property. McCall tells GlobeSt.com the seller wanted out of managed properties.
“This was one of the most aggressively-priced assets sold since the market collapsed in 2008,” says McCall. “Buyers continue to gravitate towards the highest-quality shopping centers with strong demographics.”
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