Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has announced the sale of The Shoppes at Olde Towne, a 33,387-square-foot mixed use property located at 425 Buford Highway in Suwanee, Georgia. The property was marketed on behalf of the seller by Douglas Clyburn of Shane Investment Property Group prior to the brokerage firm being acquired by Stan Johnson Company. The commercial asset was purchased by a family trust from California. The property was listed for sale at approximately $6.0 million, although the sold price and cap rate were not disclosed.
“We were able to address early objections to this two-story office/retail building during the COVID-19 pandemic, and we positioned the property to sell at nearly its full asking price,” said Clyburn, Associate Director, now with Stan Johnson Company in its Alpharetta, Georgia office. “All tenants remained in place during the shut-down, which was a testament to the strength and stability of the property. By completing the sale in a timely manner, the seller was able to redeploy funds for a new development in Ohio.”
Located 30 miles from downtown Atlanta, the commercial property is situated in an affluent area with strong demographics. Due to its prime location within the walkable downtown Suwanee district, the two-story office and retail building has maintained high occupancy and was fully leased at the time of sale to 14 tenants. The asset offers its tenants and customers excellent access and on-site parking.