Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of Thomson Plaza located at 308-324 West Hill Street in Thomson, Georgia. The property is comprised of a 96,495-square-foot retail center situated on more than 10.5 acres, and it was 98 percent leased at the time of sale. The seller, Thomson Plaza LLLP, was represented by Doug Clyburn and Julie Clyburn of Stan Johnson Company. A private 1031 exchange buyer from Statham, Georgia purchased the asset for approximately $3.3 million.
“We represented the seller, a local family, who has owned the property for more than 49 years,” said Doug Clyburn, Associate Director in Stan Johnson Company’s Alpharetta, Georgia office. “Thomson Plaza has a history of stable occupancy and enjoys outstanding visibility and access, along with favorable lease economics, all of which were attractive to the purchaser.”
Thomson Plaza is a KJ’s Market IGA grocery-anchored community center consisting of a mix of local and national tenants including Bealls Outlet, Family Dollar, Aaron’s and Subway. The 13-tenant property is located 33 miles west of Augusta, Georgia and was originally constructed in 1972 with renovations occurring in 1990.