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Rivercrest Realty Snags 157K-SF Flowery Branch Retail Center
Private investor Rivercrest Realty Investors LLC has acquired Stonebridge Village, a 157,002-square-foot retail center in Flowery Branch. The sales price was not disclosed. Margaret Caldwell and Patrick Kelley of Stan Johnson Co. represented the undisclosed seller in the transaction.
Located at 5855 Spout Springs Road, the center is anchored by T.J. Maxx, Ross Dress for Less, PetSmart and OfficeMax and was 97% leased at the time of sale. The property was originally built in 2008 and is situated on more than 24 acres at the intersection of Interstate 985 and Spout Springs Road just 30 miles northeast of downtown Atlanta.
“With the nearest competing center almost ten miles away, Stonebridge Village draws from a massive trade area and has remained well occupied with more than 85 percent of the tenants being first generation,” said Patrick Kelley.
- ◦Sale/Acquisition
