Tree Trail Village sells for $9,000,000 in Norcross, GA

Challenge

This sale in Gwinnett County, Atlanta, presented a unique set of challenges. A strength of this property includes being grocery-anchored by Food Depot with rising sales and its location in one of Atlanta’s fastest growing areas. Despite this strength, there were some obstacles. The property’s visibility was partially obstructed by unowned outparcels, and its tenant lineup consisted of second-generation tenants, with Food Depot back-filing a Publix box.

Strategy

To address these challenges, agents leverage their deep pool of value-added and yield-based buyers, saturating the investment community with opportunity. After garnering six offers from qualified buyers, they meticulously conducted a two-stage offering process, narrowing down the buyer pool to secure the best buyer for the asset at the highest possible price.

Results

The transaction culminated in the successful sale of the 1250 Tech Dr. neighborhood center on April 6, 2017 for $9,000,000. The buyer’s willingness to reinvest in the location, combined with SRS’s unrelenting perseverance, market knowledge, and familiarity with the product type and tenant, ensured a smooth transaction process.

Disclaimer: This deal was not through Matthews Real Estate Investment Services™.