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| Doug Clyburn |
The 8,006-square-foot unanchored retail center
was sold by Ward Stonebridge LLC, a Georgia-based private equity group. It was
acquired by a private investor, also based in Georgia, for more than $1.5
million.
Doug Clyburn and Julie Clyburn
of Stan Johnson Company represented both parties in the transaction.
“We sourced this off-market center for one of
our clients looking for a well-located, value-add property,” said Doug
Clyburn, Associate Director in Stan Johnson Company’s Alpharetta,
Georgia office.
“Due to an absentee-owner situation, the center was only 34 percent occupied at the time of sale but has excellent upside potential given the five-mile population of 161,032 and an average household income of $174,415 within three miles.”
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| Julie Clyburn |
The two current tenants, That Dirty Dog and
American Hair Cuts, have been in place for more than 10 years, and the center
features three vacant suites between 1,200 and 2,150 square feet each.
Area tenants include Starbucks, Home Depot,
Kohl’s, Wells Fargo, McDonald’s, Zaxby’s and many others.
Contact:
David Ebeling
Ebeling Communications
949.861.8351
949.278.7851 (Cell)
Member of the National Association of Real
Estate Editors (NAREE)
“PR Strategist for the Commercial Real Estate Industry: I do what I love and love what I do.”
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