Stockbridge, GA Retail Center Sells for $3M Amid Multiple Offers
Stan Johnson Company has completed the sale of Rock Quarry Center on Rock Quarry Road in Stockbridge, GA. The asset traded for approximately $2.8 million reflecting a 7.31% cap rate.
The unanchored shopping center totals 21,600 square feet and was fully leased at the time of sale. Rock Quarry Center is situated on 1.42 acres in a dense retail corridor with access to Interstate 75. It was built in 2003 and features 10 tenants including restaurant and service retailers.
The seller was an individual investor based in Fayetteville, GA. The buyer, a McDonough, GA-based private entity, was represented by Doug Clyburn and Julie Clyburn of Stan Johnson Company’s Alpharetta office.
According to Doug Clyburn, the property received multiple offers as soon as it come to market.
- ◦Sale/Acquisition