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| Chip Sipple |
ATLANTA, GA – Pleasant
Hill Square, a 282,137-square-foot power center located in Duluth, Georgia, has
sold in an Auction.com sale for $16.4 million.
Tony Bartlett and Chip
Sipple of Lincoln Property Company Southeast (Lincoln) and Kyle Stonis and Pierce Mayson of SRS
represented the seller in the transaction. GW Real Estate of Georgia LLC
purchased the property.
“Pleasant Hill Square sold
for strong price for a value add investment, which shows the strength of metro
Atlanta’s retail market,” Sipple said. “Investors are actively and aggressively
seeking value-add opportunities that are located in good locations.”
Pleasant Hill Square,
located at 2205 Pleasant Hill Road within the Gwinnett Place CID, includes an
advantageous line-up of national anchors including Toys ‘R’ Us, Staples and
Jo-Ann Fabric & Craft Stores.
 |
| Kyle Stonis |
The property is located
directly on Pleasant Hill Road with great visibility to over 50,000 cars per
day.
The property was 49 percent leased at the time of the sale, provides an opportunity for the owner to add significant value through the lease up of 144,641 square feet.
The Gwinnett Place CID is
a self-taxing district that uses the additional property taxes of its members
to accelerate infrastructure improvements, security enhancements and economic
development initiatives.
For more information on
the Southeast Region of Lincoln Property Company, please visit www.lpcsoutheast.com.
To check out the blog, go to www.lpcsoutheast.com/blog.
For a complete copy of the company’s news
release, please contact:
Nekeidra Taylor • The
Wilbert Group
1720 Peachtree St., Suite
350 • Atlanta, Ga. 30309
O: 404-748-1368 M:
404-548-1917
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