ATLANTA (January 29, 2021) – SRS’ Investment Properties Group exclusively marketed and brokered the sale of Peachtree Corners Pavilion, a retail strip center located in Norcross, Ga. which is within the Atlanta MSA. The center is positioned at 5770 Peachtree Industrial Boulevard, a high-traffic corridor accommodating 41,600 vehicles per day. Situated on the border of Norcross and Peachtree Corners, the property benefits from a highly desirable location within one of Atlanta’s most sought-after suburban communities. Peachtree Corners continues to be one of the fastest-growing communities in Gwinnett County. Peachtree Corners Pavilion consists of 18,550 square feet which is situated on 1.87 acres of land. Peachtree Corners Pavilion is characterized by an extremely stable, 100% occupied tenant roster comprised of internet-resistant retailers such as TapOut Fitness, Avis, Shane’s Rib Shack, and CBD Plus USA. The retail center was built in 2006. The seller, OMI 5770 IB, LLC, sold the property on January 21, 2021 for $4.3 million to Shallya Wholesale Distributing, LLC.
“Peachtree Corners Pavilion garnered significant interest from day one”, said Pierce Mayson, managing principal, of SRS’ Investment Properties Group. “The property’s extremely strong location, in northeast Atlanta, and intrinsic rent growth create excellent future value for the buyer, even in a fully-stabilized center. We continue to see ample interest from the investment community for un-anchored retail assets of this ilk.”
Kyle Stonis and Pierce Mayson, both managing principals of the Investment Properties Group in the SRS Atlanta office, represented the seller in the transaction. The buyer was represented by Chase Murphy, senior associate, with Skyline Seven Real Estate.
About SRS Real Estate Partners
SRS Real Estate Partners is the largest real estate company in North America exclusively dedicated to retail services. Headquartered in Dallas with more than 25 offices worldwide, SRS’ strong reach and international presence provide the company with unparalleled knowledge both globally and domestically. As a result, clients of SRS have a competitive edge through a full range of offerings including brokerage services, corporate services, development services and investment services. Since its inception in 1986, SRS has built a strong foundation in the retail real estate world and grown into one of the industry’s most influential and respected leaders. Our success is measured in the achievement of our clients’ objectives, satisfaction and trust. For more information, please visit srsre.com.