Trio Parcels Out 28-Acre Sandy Springs Land
- Nov 16, 2015
By Balazs Szekely, Associate Editor
A 28.6-acre tract of land on Abernathy Road in Sandy Springs, west of Georgia State Route 400, sold to Mercedes-Benz USA, Ashton Atlanta Residential LLC (affiliated with Ashton Woods Homes) and Westdale Properties. CBRE’s Atlanta office completed the deal with a team led by Executive Vice President Scott McGregor and Vice President John Haynes representing the seller. The transaction took place on November 12.
Situated within the Central Perimeter submarket, one of metro Atlanta’s top-performing regions, the land has been in the Glenn family since 1915, when T.K. Glenn purchased 500 acres for his country estate. The closing was the first phase of a total of 76 acres, the largest undeveloped tract in the submarket. It will be home to a Mercedes-Benz headquarters property on 12 acres, with the rest planned to be used for luxury homes, 36,000 square feet of retail and restaurants and 355 luxury multi-family units. A public green space is also planned, with the goal of preserving portions of the property in its original state.
Image courtesy of CBRE