Stockbridge Pays $20M for Single-Tenant Atlanta Retail Assets
- Mar 26, 2020
Stockbridge Capital Group has purchased two single-tenant retail properties in Atlanta for $19.7 million. Transwestern Real Estate Services’ Southeast Investment Services Group secured the deal on behalf of the seller, Scarlett & Associates.
The 13.9-acre site is located on North Druid Hills Road at Briarcliff Road. Target occupies a 154,000-square-foot property situated at 2400 N. Druid Hills Road NE, while Taco Bell operates a 2,272-square-foot building at 2420 N. Druid Hills Road NE.
The property provides convenient access to Interstate 85, Emory University, Midtown Atlanta, Decatur and Buckhead. Furthermore, the site is half a mile from two of Atlanta’s largest hospital systems, Emory Healthcare and Children’s Healthcare of Atlanta. More than 140,000 residents earning an average household income of $107,790 live within a 3-mile radius of the property, according to Transwestern data.
The brokerage team working on behalf of the seller included Vice President Fred Victor and Managing Director Jon Kleinberg. The transaction comes on the heels of a 125,976-square-foot industrial lease in Medley, Fla., also brokered by Transwestern Real Estate Services.