Case Study

Investment Properties Group sells Tree Trail Village in Norcross, Ga.

Targeting its deep pool of value-add and yield-based buyers, SRS Investment Properties Group saturated the investment community with the opportunity, garnering six offers from qualified buyers and requiring a two stage offering process which narrowed the buyer pool to what was ultimately the best buyer for the asset at the highest possible price.

Deal Strengths

  • Grocery-anchored by Food Depot, reporting sales on an upward trend
  • Located in Gwinnett County – one of the fastest-growing areas within the Atlanta MSA
  • High traffic location includes 52,100 VPD in front of the property and convenient access to Interstate 85

Deal Challenges

  • Visibility at the property partially obstructed by un-owned outparcels
  • Second generation tenant line-up with Food Depot having back-filled a Publix box

 

Overview

ASSET SOLD

Neighborhood Center

OCCUPANCY

92.53%

SALE PRICE

$9,000,000.00

YEAR BUILT/RENOVATED

1992/2013

SALE DATE

April 6, 2017

ANCHOR TENANTS
  • Food Depot
  • Family Dollar
TOTAL GLA

99,238 +/- SF

NATIONAL/REGIONAL TENANTS
  • Chase Bank
  • MetroPCS
LAND

13.03 +/- AC

 

 

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