CBRE Brokers Sale of Two Metro Atlanta Shopping Centers for $4.35M

CBRE has arranged the sale of two shopping centers in metro Atlanta, totaling approximately $4.35 million. The retail centers, located in Newnan and Ellenwood south of Atlanta, were sold by two private entities to local investors. Craig Taylor from CBRE represented the seller for both transactions and noted that there was significant interest from potential buyers with multiple offers on each plaza received.
The largest center is Sullivan Towers at 1065 Sullivan Road in Newnan which measures 12,950 square feet and is anchored by a CVS Pharmacy store; it was purchased by James Thomasson while fully leased at the time of its sale. The other property – Ellenwood Plaza located at 222 Fairview Road – comprises 9,450 square feet and was sold to United Properties Ventures; it had 95% occupancy rate when acquired.