(For more retail coverage, click GlobeSt.com/RETAIL.)

SUGAR HILL, GA-Pecos Management LLC of Atlanta has acquired a vacant 11,336-sf Eckerd drug store site from Suwanee Sun Properties Ltd. of Boca Raton, FL for $2.78 million or about $246 per sf. The per-sf price is believed by area brokers to be one of the highest per-sf price for a retail property this year in Metro Atlanta. The purchase price represents a 7.3% cap rate.

The sale was completed just as Kangaroo Bobs LLC of Kennesaw was subleasing the nine-year-old property for use as a children's play and party center at 5900 Suwanee Dam Rd., Marcus & Millichap broker Tim Giambrone tells GlobeSt.com. Kangaroo Bobs operates a similar business at 4335 Bells Ferry Rd. in Kennesaw.

Giambrone didn't disclose terms of the sublease. The property had 12 years remaining on Eckerd's triple-net lease which also included 2% rent increases every five years, the broker says. The average asking base rent range is $8.79 to $9.47 per sf.

Recommended For You

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
NOT FOR REPRINT

© 2025 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.