Franklin Street has arranged the $2.25 million sale of Mill Shoppes of Winder, a 19,019-square-foot two-building retail development located at 105 and 111 East May St. in Winder, Georgia. John Tennant and Bryan Belk of Franklin Street’s Atlanta office represented the seller, Alpha Opportunity Fund I, LLC, in the transaction. An Atlanta-based private investor purchased the property.
“The lack of new product available for purchase is turning investors toward smaller markets like Winder in search of yield,” Tennant said. “The buyer pool for this particular type of asset is finite, but Franklin Street was able to use its extensive database coupled with targeted local canvassing to source multiple local buyers.”
Mill Shoppes of Winder is strategically positioned along the main commercial-retail corridor for Winder, with good frontage and excellent visibility along East May Street. The buildings were constructed in 1970 and renovated in 2006. Current tenants include Subway, Titlemax of Georgia and Little Caesars.
The buyer plans to hold the property for long-term cash flow, and there is potential to lease up available space as the property is currently 79 percent leased.
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