Marcus & Millichap Closes Retail Sale in Atlanta Area

The company's retail group brokered the $8.6 million transaction of a Class A asset located in Dunwoody, some 20 minutes away from downtown.

Marcus & Millichap arranged the sale of a 10,350-square-foot retail property located at 4585 & 4595 Ashford Dunwoody Rd. in Dunwoody, Ga. A private investor from Santa Monica, Calif., bought the asset from an undisclosed LLC based in Atlanta, for $8.6 million.

Prime retail location

4585 & 4595 Ashford Dunwoody Rd
4585 & 4595 Ashford Dunwoody Rd

The Class A building is part of the Sterling Pointe development, which encompasses 25,000 square feet of retail and hotel space, including a 132-key Hampton Inn & Suites. The property, which has Corner Bakery Café and Sleep Number as tenants, was completed in 2016 and sits on roughly 1.5 acres of land.

Perimeter Mall is located across the street. The Perimeter business district is the largest employer in the region, offering a plethora of shopping options and office buildings. Interstate 285 and T Harvey Mathis Parkway offer easy transit options, with downtown Atlanta just a 20-minute ride away.

Tim Giambrone, first vice president of investments and senior director with Marcus & Millichap’s National Retail Group, brokered the sale. Giambrone also brokered the recent sale of Dawson 400, a shopping center located in Dawsonville, Ga.

Image courtesy of Marcus & Millichap