Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of Suwanee Celebration Village located at 2780 West Village Drive in Suwanee, Georgia. The 14,388-square-foot shopping center is fully leased to seven tenants including Verizon and ATI Physical Therapy. Stan Johnson Company’s Jeff Enck, Brian Lane and Emery Shane represented the seller, a locally based group of private investors. An individual investor based in McDonough, Georgia acquired the property for more than $5.1 million at an undisclosed cap rate.
“The seller felt there was a short window in the market to maximize their return and wanted to do something fast,” said Lane, Associate Director in Stan Johnson Company’s Alpharetta, Georgia office.
The property was constructed in 2019 and more than half of the property’s tenants operate on 10-year leases, making the asset attractive to a wide buyer pool.
“We procured 12 offers in the first two weeks of marketing and were fortunate to have our choice of buyers,” added Enck, Associate Director in Stan Johnson Company’s Atlanta, Georgia office. “The property closed in 30 days with an all-cash investor.”