Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of Ward Stonebridge Square located at 11255 Woodstock Road in Roswell, Georgia. The 8,006-square-foot unanchored retail center was sold by Ward Stonebridge LLC, a Georgia-based private equity group. It was acquired by a private investor, also based in Georgia, for more than $1.5 million. Doug Clyburn and Julie Clyburn of Stan Johnson Company represented both parties in the transaction.
“We sourced this off-market center for one of our clients looking for a well-located, value-add property,” said Doug Clyburn, Associate Director in Stan Johnson Company’s Alpharetta, Georgia office. “Due to an absentee-owner situation, the center was only 34 percent occupied at the time of sale but has excellent upside potential given the five-mile population of 161,032 and an average household income of $174,415 within three miles.”
Ward Stonebridge Square was built in 2004 and is situated on 0.99 acres with outstanding visibility and access to Woodstock Road and West Crossville Road. The two current tenants, That Dirty Dog and American Hair Cuts, have been in place for more than 10 years, and the center features three vacant suites between 1,200 and 2,150 square feet each. Area tenants include Starbucks, Home Depot, Kohl’s, Wells Fargo, McDonald’s, Zaxby’s and many others.