Transwestern Brokers Sale of 175,969 SF Retail Asset to New York-Based Investor
June 25, 2020
ATLANTA – Transwestern Real Estate Services (TRS) announces its Southeast Investment Services Group has executed the disposition of North Logan Commons, a 175,969-square-foot power center at 4002 and 4022 Atlanta Highway in Loganville, Georgia. Transwestern Vice President Fred Victor represented the undisclosed seller in the $15.6 million transaction to New York-based Big V Property Group.
“This deal went under contract in mid-March, at the beginning of the pandemic quarantine,” said Victor. “As such, completing the transaction presented unique hurdles, including difficulties conducting inspections and challenges with the current lending environment, which required extending the closing date multiple times. The buyer and seller were committed to finalizing the deal despite these obstacles and worked together throughout the process.”
More than 67% of North Logan Commons’ total occupancy comes from national anchors T.J. Maxx, Dick’s Sporting Goods, OfficeMax and PetSmart. Co-tenants Five Guys, SportClips, Anytime Fitness and Sally Beauty combine with a 127,743-square-foot Lowe’s shadow anchor to drive additional traffic to the property. At 83% occupied, the power center offers substantial value-add opportunity through lease-up.
North Logan Commons is situated along Loganville’s primary Highway 78 retail corridor in Gwinnett County, the second-most-populated county in the state, with nearly 1 million residents. Located 45 minutes from Atlanta Hartsfield-Jackson International Airport, Gwinnett County has consistently been ranked one of the fastest-growing regions in the country and a top destination for global businesses.
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Occupier Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. An integrated approach formed from fresh ideas drives value for clients across commercial real estate services, development, investment management and opportunistic programs for high-net-worth investors. The firm operates through 34 U.S. offices and global alliances with BNP Paribas Real Estate and Devencore. Learn more at transwestern.com and @Transwestern.