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| Andy Lundsberg |
ATLANTA, GA (Sept. 5,
2017) —Bull Realty arranged the sale of a 1-acre tract of land in Atlanta, GA.
The sale closed on August 18 for $5,300,000.
Bull Realty’s Andy Lundsberg and Gene Kansas of Gene Kansas Developments, LLC worked together to
represent the seller, Steve Nygren
of PP, LLC. Nygren is the master developer of Serenbe.
The property, 489-495
Peachtree Street & 496 Courtland Street, located in between Midtown and
Downtown across from Emory University Hospital, is a buy and hold for a future
redevelopment.
The buyer was SoNo on
Peachtree, LLC. The name “SoNo,” short for South of North Avenue, refers to the
area where the property is located, and is part of an initiative by Central
Atlanta Progress.
The impetus for the sale
was the closing of the Peachtree Pine homeless shelter located next door at the
corner of Peachtree and Pine, said Lundsberg. With the closing of the shelter,
Curbed said Atlanta developers are salivating over parcels in the nearby
vicinity.
The site is considered a
prime redevelopment opportunity with 6 parcels and 3 buildings totaling 49,000
SF, which are currently 60% occupied. Ocean Catering Company has occupied space
since 2011, according to CoStar. Other tenants include The City Café and Bar,
Peachtree Barber Shop. In addition, parking on the Courtland Street side is
used for the nearby Shakespeare Tavern Playhouse.
For more information
contact Bull Realty at 404-876-1640 or Info@BullRealty.com
Melissa Henry
Communications Manager
Bull Realty, Inc.
404-876-1640 x 110
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