Saturday, July 4, 2015

The Taylor-McMinn Team of Marcus & Millichap Sells $10.35 Million Shopping Center in Atlanta, GA


Crossville Village Shopping Center,
Alpharetta Highway and Holcomb Bridge Road, Roswell, GA

 
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.”

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

No comments:

Post a Comment