(RTTNews) - Marcus & Millichap (MMI) Monday announced the $7.22 million sale of Sugarloaf Village, a 32,060-square-foot retail center in Lawrenceville, Georgia.
Eric Abbott, director of investments at the firm's Atlanta office, noted that demand for unanchored strip centers in North Atlanta suburbs remains strong due to limited supply, service-oriented tenants, and upside potential. Abbott and Zach Taylor represented the seller, a local private investor.
Built in 2008 and located at 1685 Old Norcross Road, the center sits at a high-traffic intersection near State Route 316. Recent upgrades totaling over $500,000 include new paint, HVAC systems, drainage, LED lighting, and parking lot repairs, while tenants have invested more than $900,000 in buildouts.
Tuesday MMI closed at $31.01, up 1.24%, and showed no after-hours movement on the NYSE.
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