DOUGLASVILLE, GA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of a 352,073-square foot Walmart Supercenter (top left photo) and Sam’s Club located approximately 20 miles west of downtown Atlanta. The sales price of $32.8 million represents $93 per square foot.
Craig F. Johnson, an associate vice president in the firm’s Atlanta office, represented the seller, a California-based investor and the all-cash buyer, a private REIT.
“Investors seeking steady returns and capital preservation are demonstrating strong interest in top-quality Atlanta net-leased assets,” says Johnson. “There is a tremendous amount of capital looking for investment-grade single-tenant properties. We are receiving strong bids from institutions and large investors who are setting pricing benchmarks,” adds Johnson.
The Douglasville Walmart Supercenter and Sam’s Club are located at 7001 Concourse Pkwy. in Douglasville. The 1.2 million-square foot Arbor Place (middle right photo) regional mall and many national retailers are directly across from the property on Interstate 20 in the largest retail corridor just west of Atlanta.
The population of Douglasville has grown 37 percent since 2000, which is almost twice Georgia’s overall growth rate. Douglasville’s population is expected to increase another 15 percent during the next five years.
The Walmart Supercenter and Sam’s Club buildings were constructed in 1999. The base triple-net lease term runs through November 2019 and contains six five-year options.
The population within five miles of the property is 81,657 and the annual median household income is $58,840.
Contact: Stacey Corso, Public Relations Manager, (925) 953-1716
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