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| Crossville Village Shopping Center,
Alpharetta Highway and Holcomb Bridge Road, Roswell, GA
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| Zach Taylor |
ROSWELL, GA – Marcus & Millichap (NYSE: MMI), a
leading commercial real estate investment services firm with offices throughout
the United States and Canada, announces the sale of Crossville Village, a 74,790-square-foot shopping center in the
north Atlanta suburb of Roswell, Ga. The $10,350,000 sales price equates to
$138 per square foot.
Zach Taylor and Don McMinn,
vice presidents investments in Marcus & Millichap’s Atlanta office and
principals of the Taylor-McMinn Team, represented the seller and procured the
buyer, a private investment group led by John
Perlman of Adams & Co. Real Estate Inc.
“The center’s affluent
demographics, high-traffic location, and attractive return drew a great deal of
interest from both local and national investors,” says Taylor.
“Pricing for
grocery- anchored centers and single-tenant properties remains at all-time peak
levels and as a result we are experiencing increased demand and significant cap
rate compression for unanchored multi-tenant centers with national tenants like
Crossville.”
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| Don McMinn |
The retail center is located at the
busy Roswell intersection of Alpharetta Highway and Holcomb Bridge Road.
Crossville Village was built in 1978 on 7.5-plus acres and remodeled in 2004. The
buyer assumed existing CMBS financing.
The Taylor-McMinn Team is a
nationally recognized, industry-leading retail investment sales team that
specializes in the disposition of net-leased investment properties and shopping
centers throughout the United States.
For a
complete copy of the company’s news release, please contact:
Gina Relva
Public Relations Manager
(925) 953-1716
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