Franklin Street has arranged the $13.568 million sale of Mill Creek Walk, a retail center located at 3260 and 3264 Buford Drive in Buford, Ga., just 35 miles from downtown Atlanta. John Tennant and Bryan Belk of Franklin Street’s Atlanta office represented the seller, Mill Creek/Cooper, LLC of Campbell, Calif., and the buyer, Bond Street Advisors Group of Charleston, S.C., in the transaction of the 36,358-square-foot property.
Mill Creek Walk is located across the street from The Mall of Georgia, which is one of the most visited malls in the country. The shopping center is anchored by Petco, the nation’s second largest pet retailer, and is 96% leased to a mix of national, regional and local tenants. The new owner plans to hold the property long term and focus on upgrading some of the current uses in the center.
“Our retail investment sales team identified this mall-peripheral opportunity at one of the most dominant regional malls in the southeast. We were able to immediately plug in the right buyer for this asset and close quickly,” said Tennant, senior director of retail investment sales. “We’re continuing to see strong investor demand in convenience retail centers made up primarily of fast casual restaurants and service-based tenants.”
“Franklin Street took over the listing, which had previously been on the market, and found a qualified buyer after just one week of marketing the property to our national buyer pool,” said Belk, senior director of retail investment sales. “The center’s proximity to the Mall of Georgia, which draws over 15 million visitors a year, was a top selling point for the buyer.”
Built in 2001, Mill Creek Walk is strategically positioned along Buford Drive, directly across the street from The Mall of Georgia and between I-85 and I-985 in the northern Atlanta suburbs. The immediate area surrounding the property is one of the fastest growing suburbs in the Atlanta metropolitan area.
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