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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.
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,”
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
Page Updated Last on: Oct 10, 2012