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Stan Johnson Company, SRS Arrange 1031 Exchange Sale of Marietta Retail Center
Stan Johnson Company and SRS Real Estate Partners have completed the sale of Windy Hill Crossing retail complex located in Marietta, GA. The 32,000-square-foot unanchored center property traded for approximately $6 million reflecting a 6.47 percent cap rate.
Billy Benedict and Jeff Enck of Stan Johnson Company represented the 1031 exchange buyer, a locally based group of investors. The seller, represented by Kyle Stonis of SRS Real Estate Partners, was an investor group based in nearby Smyrna, GA.
The features a mixture of restaurants and service retailers including FedEx Office and Jackson Hewitt.
“Windy Hill Crossing is in a very prominent location within Atlanta’s northern suburbs, and there are several major redevelopments in the immediate area,” said Benedict. “The center has had very stable tenancy over the years, and at the time of sale, there was a new, pending lease that brings the property’s occupancy to over 96 percent.”
- ◦Sale/Acquisition
