By Evelina Croitoru
Marcus & Millichap Real Estate Investment Services has arranged the sale of Dawson 400, a shopping center located in Dawsonville, Ga. The retail center traded for $6 million and the sale closed at 98 percent of list price after receiving multiple qualified offers. First Vice President Tim Giambrone represented both parties in the transaction.
Located at 66 S. 400 Center Lane, the 69,100-square-foot property was completed in 1989 and occupies an 11.4-acre land parcel. Anchored by Napa Auto Parts and Goodwill, the center was 88 percent occupied at the time of the deal.
Goodwill has more than 8 years remaining on its term and Napa recently inked a 5-year triple-net lease. The property is located less than a mile away from the North GA Premium Outlet Mall that draws more than 7.5 million annual visitors to the area. Additionally, the shopping center is 45 miles north of downtown Atlanta.
Image courtesy of Marcus & Millichap