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| Will Young |
ATLANTA, GA – Will
Young at Bull Realty brokered the sale of “The Boulevard I & II at
Arbor Place Mall,” two multi-tenant retail buildings totaling 30,300 SF in
Douglasville, GA. The sale closed on Jan. 11th for $5 million ($165/SF) at a
7.9% proforma cap rate.
Built in 2004 and 2007, this retail portfolio was 100%
occupied at the time of the sale. The stable mixture of 12 tenants is comprised
of a blend between local and national tenants including Metro PCS, Edible
Arrangements, State Farm and Get Well Urgent Care.
Young was chosen to market the property exclusively by
the Seller, Benchmark Boulevard Properties, Inc. This center sold to Michael and Sherri Basinet, who were
not represented by a broker.
“The Seller developed and managed this property, so we
were pleased to bring him an out-of-state 1031 buyer, who was capable of paying
top dollar. The building is in excellent condition and should continue to be a
solid investment for the buyer,” said Young.
For more information contact Bull Realty at 404-876-1640
or Info@BullRealty.com - Bull Realty, Inc. (www.BullRealty.com) is a commercial
real estate brokerage and advisory firm headquartered in Atlanta, licensed in
nine states providing acquisition, disposition, leasing and advisory services.
The firm also produces and hosts America’s Commercial Real Estate Show
(www.CREshow.com).
For more
information on this release, please contact:
Melissa Henry
Communications Manager
Bull Realty, Inc.
404-876-1640 x 110
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