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| Maggianos Little Italy Restaurant, Buckhead, GA |
ATLANTA, GA -- Ackerman Retail, a division of Ackerman & Co. and the
exclusive advisor to the estate of Charles S. Ackerman, has brokered the
sale of two sought-after properties in the Buckhead submarket of Atlanta: 3368
Peachtree Road for $12.75 million ($474 PSF) and 3465 Buckhead Loop Road for
$10.25 million ($2,713 PSF).
The properties are fully leased to Maggiano’s Little Italy
and Wells Fargo, respectively. The assets were purchased by a private investment company.
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| Wells Fargo Bank, Buckhead, GA |
Representing the seller, Ackerman & Co. Senior Vice
Presidents Kevin Hermetz and Jimmy Stevens brokered the
Maggiano’s transaction and Ackerman Retail Senior Vice President Sean
Patrick and Vice President Stephen Lapierre brokered the Wells Fargo
sale.
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| Leo Wiener |
“This transaction is a new high-water mark for free-standing retail in the
market," said Ackerman Retail President Leo Wiener, who led the effort
for these estate sale transactions.
"The interest was high and the competition to land
these iconic properties was extremely aggressive as evidenced by the final
valuations.
“The best-in-market cap rates are a testament to the
brilliance of Charlie Ackerman and his ability to aggregate intergenerational
real estate.”
Located in the heart of the Buckhead business district, one of the Southeast’s
most dynamic economic hubs, the properties are within walking distance to
Atlanta’s two most upscale shopping centers (Phipps Plaza and Lenox Square),
MARTA rail stations, upscale restaurants, luxury hotels and more than 17.5
million square feet of Class A, high-rise offices.
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| Kevin Hermetz |
The single-story, 3,796-square-foot Wells Fargo property is
located on Lenox Road (traffic count 53,000 vehicles per day) at the signalized
Buckhead Loop intersection and features 30 parking spaces.
Headquartered in Atlanta, Ackerman & Co. is a privately held,
full-service commercial real estate firm focused on providing quality
investment, brokerage, management and development services in the Southeast.
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| Jimmy Stevens |
To date, Ackerman & Co. has developed and acquired more than 37 million square feet of office, medical, industrial, retail and mixed-use space, has nearly 8 million square feet under management and maintains an investment portfolio valued at $1 billion.
Ackerman Retail, a division of Ackerman & Co., offers a best-in-class
services platform, delivering solid results for local and multi-market clients
across the Southeast. To date, Ackerman Retail has completed more than 10
million square feet of transactions valued at $1.7 billion.
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| Sean Patrick |
CONTACT:
Steve Webb
Marketing Research Coordinator
P: 678.993.2935 F: 770.913.3966
………………………………………………………………………………………….
Ackerman & Co.
10 Glenlake Parkway, South Tower, Suite 1000
Atlanta, Georgia 30328
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