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Atlanta & Southeast  + Retail  |  May 12, 2021
David Cohen
By: David Cohen

Alpharetta Shopping Center Trades for $25M

Real estate brokerage and advisory firm Hanley Investment Group has arranged the $24.6 million sale of Alpharetta Commons, a 94,500-square-foot shopping center in Alpharetta.

Alpharetta Commons is located approximately 30 miles north of downtown Atlanta at the intersection of State Bridge Road, Old Milton Parkway and Kimball Bridge Road. The shopping center was built in 1997 and is located on more than 10 acres at 4305 State Bridge Road/Old Milton Parkway. In addition to supermarket anchor Publix, Alpharetta Commons has a variety of service-based and internet-resistant tenants including Sports Clips, T-Mobile, nail salon, dry cleaners, a liquor store and food and beverage outlets.

Ed Hanley and Kevin Fryman of Hanley Investment Group, along with ParaSell, Inc., represented the 1031 exchange buyer, a private investor based in Southern California. The seller was an institutional real estate owner, operator and developer of a national portfolio, and was represented by CBRE Executive Vice President Chris Decouflé, Senior Vice President Kevin Hurley and Senior Associate Matt Karempelis.

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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