Multi-Tenant Strip Center in Suburban Atlanta Got $6M Sauce
Stan Johnson Company has completed the $5.9-million sale of a multi-tenant retail center at 9484 Highway 5 in Douglasville, GA.
Brian Lane, Emery Shane and Billy Benedict of Stan Johnson Company represented the seller, a partnership of CONNOLLY, Coro Realty and Wilson Development Group. The asset was acquired by a private investor.
The west Atlanta strip center totals 6,975 square feet and is fully leased to three tenants: Starbucks, Zales and Five Guys. All tenants operate on long-term net leases.
The property was built in 2021 and is situated on 0.94 acres 20 minutes west of Atlanta. The center is an outparcel to Arbor Square with a HomeGoods, Burlington, Kroger, Home Depot, Lowe’s and At Home. “This three-tenant center sits on arguably the best corner in an area with more than 4.0 million square feet of surrounding retail,” said Lane. “This is evidenced by each of the tenants signing long-term corporate leases, with two of the tenants relocating from within the market to be in this specific location.”
- ◦Sale/Acquisition