Atlanta Mixed-Use Property Sells for $21M
- May 17, 2017
Colliers International completed the sale of Mansell Commons Business Park, a 223,251-square-foot asset in Alpharetta, Ga. The nine-building property changed hands in a $21.2 million deal and comprises office, showroom, retail and warehouse space.
Dennis Mitchell and Matt Wirth, senior vice presidents with Colliers’ Atlanta-based Industrial Investment Services Group, represented the seller, Atlanta Property Group LLC. The buyer was Roswell-based Mimms Investments. According to Yardi Matrix data, the business park also became subject to a $13.3 million acquisition financing originated by Woodmen of the World Life Insurance Society, set to mature in April 2035.
Mansell Commons Business Park is located at 1007 Mansell Road, along a strong office and retail corridor in Atlanta’s North Fulton submarket. Constructed between 1984 and 1987, the property previously sold for $18.4 million, when Atlanta Property Group acquired it from First Industrial Realty Trust in 2007, Yardi Matrix data shows.
Image courtesy of Yardi Matrix