The 14,625-SF retail strip is 100% leased to local and national tenants including SouthState Bank, Morgan & Morgan, Viva Chicken, Mimi’s Nails, and Clever & Cork
ALPHARETTA, GA (May 12, 2023) – Franklin Street has arranged the sale of Alpha Soda Center, a 14,625-square-foot unanchored retail strip center in Alpharetta, Georgia, for $9.4 million, equating to $642.74 per square feet.
Franklin Street’s Retail Investment Sales Team of Bryan Belk and John Tennant brokered the transaction on behalf of the seller, Georgia-based Stonewalk Alpha III, LLC. The new owner plans to hold the retail asset for long-term investment.
“Street front retail centers are attracting a wide variety of capital, due to their in-demand spaces and excellent visibility,” said Belk. “We sourced bids from institutional capital, all the way down to private individual investors on this offering.”
The property recently underwent renovations in 2021, including remodeling the exterior and expanding the building by 2,625 square feet.
Located at 11760 Haynes Bridge Road, the property is located near Avalon mixed-use community, Alpharetta City Center, the Alpha Loop, The Maxwell and a significant amount of office parks.
Tennant added, “Alpharetta has some of the region’s strongest demographics with 200,000 residents within 5 miles and $150,000+ average household incomes. Investors are always going to flock to the highest quality real estate, no matter the economic times.”
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 $7 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.