Site Centers, a major retail company, recently made a significant investment in the small Brookhaven Station retail center. The price tag for this 45,000-square-foot property was $30.2 million, which equates to about $670 per square foot – the highest amount paid per foot for a retail center this year according to Databank research firm.
In the past year alone, there have been 704 sales of retail properties in metro Atlanta with an average transaction price of $193 per square foot. JLL represented Hendon Properties as they sold Brookhaven Station for $18 million in April 2021.
Despite its smaller size and relatively high cost compared to other properties in the area, Brookhaven Station has proven to be a successful investment with nearly one-million visitors over the past year and consistently high occupancy rates near 100%. Originally built in 1985 but renovated more recently, this neighborhood shopping destination sits on a spacious 4.6-acre lot along Peachtree Road near the popular Brookhaven Marta station.
Some notable tenants at Brookhaven Station include Chick-fil-A,Mellow Mushroom,Fox Bros.Bar-B-Q,and Chopt,a Northside Hospital primary care location.This prime location combined with its attractive mix of tenants make it an appealing destination for shoppers and investors alike.Brookhaven Retail Center continues to thrive as evidenced by its recent sale at such an impressive price point.
