Value-Add Neighborhood Shopping Center Poised for Repositioning
Transwestern Real Estate Services (TRS) announces its Southeast Investment Sales team has brokered the sale of a 26,400-square-foot retail center at 1995 Mall of Georgia Blvd. in Buford, Georgia for $3.65 million, or $138 per square foot. Transwestern Senior Managing Director Kevin Markwordt and Managing Director Fred Victor represented the seller, Jack Rabbit Group, LLC, in the disposition to a private investor.
“This property presented investors with a win-win opportunity to purchase an attractive, long-established center at an attractive basis in a historically stable submarket,” said Victor. “The Mall of Georgia trade area has reported low single-digit vacancy for the past decade.”
The neighborhood shopping center is adjacent to Mall of Georgia and numerous national retailers, such as Costco, Target, Hobby Lobby and Bed Bath and Beyond. The property benefits from excellent accessibility from Interstate 85 and its position within a dense, affluent residential region. The 55,691-person population within a 3-mile radius has more than doubled since 2000 and reports an average household income of $104,839.
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
