CBRE Arranges Sale of Two Metro Atlanta Shopping Centers for $4.35M
CBRE has arranged the sale of two shopping centers in metro Atlanta, one located in Newnan and the other in Ellenwood. The retail centers were sold by two private entities for approximately $4.35 million. CBRE’s Craig Taylor represented the seller in each transaction.
“We received significant interest from potential investors, including multiple offers on each plaza,” Taylor said.
The largest of the two is Sullivan Towers. Located at 1065 Sullivan Road in Newnan, the retail center measures 12,950 square feet and is anchored by a CVS. The property was purchased by local investor James Thomasson. Sullivan Towers was fully leased at the time of its sale.
The other property in the portfolio is Ellenwood Plaza, at 222 Fairview Road in Ellenwood. The 9,450-square-foot center was sold to United Properties Ventures and was 95-percent leased at the time of its sale. Both properties are located south of Atlanta.