Matthews™ Closes Sale of Premier Multi-Tenant Retail Strip Center in GA

Multi-Tenant Retail Sale in Georgia

 

Marietta, GA —  Matthews Real Estate Investment Services™, a leading commercial real estate and technology firm, successfully brokered the $5,825,000 million sale of Kennestone Oaks, a multi-tenant strip center located in the heart of Marietta’s medical district. The transaction achieved a competitive price of $661 per square foot, exceeding seller expectations. Conrad Sarreal, Vice President and Associate Director at Matthews™, represented the seller in the sale.

 

The property was sold by BAMM Real Estate to a private investor based in Florida. Situated directly across from a top-ranked regional hospital and emergency room, the center benefits from strong foot and vehicle traffic. Developed in 2019, the building features 8,800 square feet of gross leasable area on a 1.04-acre lot. The strip center is fully occupied, anchored by Piedmont Urgent Care, Georgia’s largest healthcare provider, with McAlister’s Deli and The Poke Company as additional tenants.

 

“Other than top tier markets like Tennessee and Florida, this sale recorded the second-lowest cap rate for newer 3+ tenant retail strips in the Southeast since January 2023 when rates started skyrocketing,” Sarreal said. “The property sold at a cap rate 74 basis points below market comparables for the same period, underscoring both the asset’s quality and our ability to attract competitive buyers in a low-transaction market. Within just two weeks of marketing, I generated six offers.”

 

The buyer has family nearby and intends to hold the investment as a long-term investment, with plans to self-manage the property and keep the current tenants in place.

For more information or to contact a Matthews™ specialized agent, please visit
www.matthews.com.

 

About Matthews™

Matthews Real Estate Investments Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 1,000 agents and employees in 25+ offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.