DOUGLASVILLE, May 10, 2024 – Franklin Street Retail Investment Sales announced today that is has closed the sale of Market Square, a 116,766-square-foot, 10.5-acre lot regional shopping center in Douglasville, Georgia.
Franklin Street arranged the transaction on behalf of the seller SCC Market Square LLC, and the buyer is BC Waycross Spring Hill, LLC.
”We received a wide array of interest from national and local buyers and had a highly competitive bid process. Despite the persistent higher interest rates, retail offerings have continued to garner significant interest due to the strong fundamentals with high occupancies and increasing rental rates,” said Belk.
The new buyer has owned in the market for 30+ years and plans on holding the asset as a long-term investment. Built in 1984, Market Square underwent recent renovations in 2019. The retail center includes national discount retailers including Aaron’s, YouFit, Pet Supermarket, Davita Dialysis, among others.
Leading the successful transaction was Franklin Street’s Atlanta-based Retail Investment Sales team of Managing Directors Bryan Belk and John Tennant.
Tennant added, “The limited supply of quality properties hitting the market has built up a pent-up demand for the product type.”
Conveniently located off the I-20 corridor at 9559 GA-5, within the Atlanta Metro Area, the retail center sees a traffic count of 31,953 vehicles per day.
For more news, videos and research resources, please visit Franklin Street’s Information Exchange.
About Franklin Street: Founded in 2006 during one of the toughest real estate climates, Franklin Street focused on delivering value-added solutions to meet the evolving needs of clients. Through a collaborative philosophy of leveraging the resources, expertise and experience of each of its lines of business, Franklin Street has grown to include seven business divisions – Investment Sales, Tenant and Landlord Representation, Capital Advisory, Insurance, Property Management and Project Management. With $10 billion in transaction value across all major product types, Franklin Street offers unmatched value and optimal solutions for clients nationwide. Headquartered in Tampa, Fla., the firm has teams located in top markets throughout the country and works with owners and occupiers of commercial real estate nationwide. Learn more about Franklin Street at FranklinSt.com.
