Franklin Street has arranged the $1.87 million sale of the Shoppes of Hammond Crossing, an 8,340-square-foot strip center in Cumming, Georgia. Bryan Belk and John Tennant of Franklin Street’s Atlanta office represented the seller, Safety Harbor, Florida-based GD HM LLC, in the transaction. The buyer, a Greenville, South Carolina-based private investor, plans to hold the property long term.
“The price point and location of the property generated a large buyer pool with nine offers in the first week of marketing,” Belk said. “Because of the amount of sales activity in the market, the investor was able to achieve an asking price above what was originally expected.”
The Shoppes of Hammond Crossing, located at 3280 Keith Bridge Road just east of Georgia 400 and less than two miles from Lake Lanier, is home to nationally-recognized tenants such as Moe’s Southwestern Grill, AT&T and Little Caesars, and is surrounded by several traffic generating retailers including Publix, Ingles, Walgreens, Dunkin Donuts and Bojangles.
“The suburbs of Atlanta are seeing more continued investor activity as the job growth trends improve,” Tennant said. “As more companies migrate to the Atlanta area, the suburbs will see a continued growth which will increase retail traffic flow and benefit the Shoppes of Hammond Crossing.”
The visibility of the property from Keith Bridge Road and Browns Bridge Road attracts the nearly 20,000 residents living within a three-mile-radius of the shopping center.
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