Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of Dawson Forest Shopping Center. The 10,100-square-foot unanchored shopping center is located at 802 Georgia Highway 400 South in Dawsonville, Georgia. The property features three suites and was 72 percent occupied at the time of sale. Stan Johnson Company’s Doug Clyburn and Julie Clyburn represented the private Atlanta, Georgia-based buyer. The locally based owner sold the asset for approximately $1.7 million reflecting a 6.16 percent cap rate.
“We sourced this off-market property for our client, a dental group, looking for a multi-tenant center in Dawsonville to open another office,” said Doug Clyburn, Associate Director in Stan Johnson Company’s Alpharetta, Georgia office. “The center had one endcap vacancy which suited our client’s needs, and we were able to complete the transaction with the local owner.”
Dawson Forest Shopping Center is situated on a 1.22-acre parcel near the heavily trafficked North Georgia Premium Outlets just one hour north of Atlanta. The site is adjacent to major retailers including Marshalls, Ross Dress For Less and Hobby Lobby, among others. The center was originally built in 1998 and was renovated in 2018.