Case Study: 1250 Tech Dr., Norcross, GA
Property Profile
$9,000,000Tree Trail Village sells for $9,000,000 in Norcross, GA
Challenge
This sale in Gwinnett County, Atlanta, presented a unique set of challenges. A strength of this property includes being grocery-anchored by Food Depot with rising sales and its location in one of Atlanta’s fastest growing areas. Despite this strength, there were some obstacles. The property’s visibility was partially obstructed by unowned outparcels, and its tenant lineup consisted of second-generation tenants, with Food Depot back-filing a Publix box.
Strategy
To address these challenges, agents leverage their deep pool of value-added and yield-based buyers, saturating the investment community with opportunity. After garnering six offers from qualified buyers, they meticulously conducted a two-stage offering process, narrowing down the buyer pool to secure the best buyer for the asset at the highest possible price.
Results
The transaction culminated in the successful sale of the 1250 Tech Dr. neighborhood center on April 6, 2017 for $9,000,000. The buyer’s willingness to reinvest in the location, combined with SRS’s unrelenting perseverance, market knowledge, and familiarity with the product type and tenant, ensured a smooth transaction process.
Disclaimer: This deal was not through Matthews Real Estate Investment Services™.
Recent News
Recent Media & Thought Leadership
11/21/2024
Case Study: 2295 S Hiawassee Rd.
11/19/2024
Case Study: 1250 Tech Dr., Norcross, GA
11/7/2024
Case Study: 223 N Seven Oaks Dr.
11/7/2024
Case Study: 600 East Church St.
11/4/2024
Case Study: 946 Orleans Rd
10/30/2024
Case Study: 2003 E Greenville St
10/29/2024
Case Study: 114 12th Street NE
10/23/2024
Industrial Sale Leaseback – Indiana
10/22/2024