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Marcus and Millichap tapped to market LA Fitness Anchored center in Atlanta

Marcus & Millichap Real Estate has secured the exclusive listing for a 54,250-square retail shopping center anchored by LA FITNESS (top left photo) in Lawrenceville a north suburb of Atlanta Georgia. The listing price is $10.5 million.

 
 
LA Fitness Lawrenceville GA
LA Fitness Lawrenceville GA
PRLog - Oct. 4, 2012 - Marcus & Millichap Tapped to List $10.5 Million (http://www.marcusmillichap.com/)

LA (http://www.marcusmillichap.com/) FITNESS Anchored Sugarloaf Crossing in Lawrenceville (Atlanta) Ga.


Atlanta- GA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has secured the exclusive listing for a 54,250-square feet retail shopping center anchored by  LA FITNESS  (right photo) in Lawrenceville a northern suburb of Atlanta Georgia. The listing price is $10.5 million.

Russell Malayery, CCIM, a senior associate of investments and Drew Hines both from the firm’s Atlanta office, are exclusively representing the seller.

Malayery a 20+ years veteran of the commercial real estate industry and Hines a very knowledgeable engineer and developer have teamed up to put their combined expertise to bring about a quick sale for this class “A” asset.

“This property’s prime location will attract well-qualified investors seeking stable returns in an excellent market,” says Malayery.

“In spite of the stalled economy, quality retail properties similar to this asset remain highly sought-after among investors. This asset is located across the street from the 1.4M square feet Discover Mill Mall.”, Malayery continues.

“Because of its convenient proximity to I-85 and other national tenants such as Bass Pro Shop, Burlington Coat Factory, Medieval Times and Off 5th Saks Avenue Outlet, We expect to generate an ample number of qualified in-state and out-of-area buyers,” he notes.

“The lease for this 41,000-square foot asset will be corporate-backed,” adds Hines. “There are currently 11.5 years remaining on the lease, followed by four five-year options.”

Located at 1860 Duluth Highway, the site enjoys great visibility and ease of access with over 38,000 average daily traffic. There are currently over 500,000 populations in a 15-minutes’ drive time of the property with an average household income exceeding $100,000.

Contact: Karen Mentor, Director of First Impressions, (800) 869-1031

Photo:
http://www.prlog.org/11991346/1

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Source:Marcus & Millichap
Country:United States
Industry:Real Estate, Investment
Tags:la fitness, netleased, 1031, commercial real estate, investment
Last Updated:Oct 10, 2012
Shortcut:prlog.org/11991346
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