JLL Arranges Atlanta-Area Retail Center Acquisition
- Apr 14, 2020
DLC Management Corp. has sold Five Forks Corners in Lilburn, Ga., to Branch Properties. Gwinnett County public records show the 88,646-square-foot retail center traded for $12.8 million. The new owner received $8.8 million in acquisition financing for the property. The loan, originated by Synovus Bank, is set to mature in 2025.
Located at 4045 Five Forks Trickum Road S.W. in a dense residential Atlanta submarket, the asset is exposed to some 41,000 vehicles per day. At the time of sale, Five Forks was 89 percent rented to a tenant roster including Pak Mail, Marco’s Pizza, Fitness 19, Farmers Insurance and Lush Nail Spa, with Publix anchoring the property for more than 23 years.
JLL Directors Brad Buchanan and Mike Allison, together with Senior Managing Director Jim Hamilton worked on behalf of the seller. The transaction comes at the heels of the $20.1 million refinancing of One Deerwood in Jacksonville, Fla. Senior Directors Porter Terry and Tarik Bateh from the brokerage company arranged the loan for Taurus Investment Holdings.