Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of Windward Square, a shopping center located at 5215 Windward Parkway in the northern Atlanta, Georgia suburb of Alpharetta. The 11,166-square-foot property was fully leased to six tenants at the time of sale, including Verizon Wireless and Eye Level Learning Center. Stan Johnson Company’s Jeff Enck represented the 1031 exchange buyers, a group of private investors based in Georgia. The seller was Penn Hodge Properties, a local developer, and the asset traded for more than $3.2 million.
“We were able to find an excellent off-market property for our 1031 exchange clients, despite the current lack of available supply,” said Enck, Associate Director in Stan Johnson Company’s Atlanta, Georgia office. “The buyers acquired a six-tenant, low management property in an elite area of Alpharetta.”
Originally constructed in 2003, the well-maintained center is situated on nearly 1.6 acres and features ample surface parking. The property fronts heavily trafficked Windward Parkway and is shadow anchored by Costco. Other neighboring tenants include Home Depot and Walmart.