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Transwestern Closes Sale of Retail Adjacent to Mall of Georgia
Transwestern Real Estate Services’ Southeast Investment Sales team has brokered the sale of a 26,400-square-foot retail center at 1995 Mall of Georgia Blvd. in Buford, GA for $3.65 million, or $138 per square foot. Senior managing director Kevin Markwordt and managing director Fred Victor represented the seller, Jack Rabbit Group, LLC, in the disposition to a private investor.
The neighborhood shopping center is adjacent to Simon Property Group’s Mall of Georgia and numerous national retailers, such as Costco, Target, Hobby Lobby and Bed Bath and Beyond. The property benefits from excellent accessibility from Interstate 85 and its position within a dense, affluent residential region., Transwestern says.
“This property presented investors with a win-win opportunity to purchase an attractive, long-established center at an attractive basis in a historically stable submarket,” said Victor. “The Mall of Georgia trade area has reported low single-digit vacancy for the past decade.”
