{"id":1004244911,"date":"2018-07-25T00:55:58","date_gmt":"2018-07-25T08:55:58","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004244911"},"modified":"2022-12-07T22:07:23","modified_gmt":"2022-12-08T06:07:23","slug":"atlanta-retail-asset-trades-hands","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/atlanta-retail-asset-trades-hands\/","title":{"rendered":"Atlanta Retail Asset Trades for $12M"},"content":{"rendered":"<p>By Jeff Hamann<\/p>\n<div id=\"attachment_1004244914\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Shops-at-Cascade-Fairburn.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004244914\" data-attachment-id=\"1004244914\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/atlanta-retail-asset-trades-hands\/shops-at-cascade-fairburn\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Shops-at-Cascade-Fairburn.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Patrick Kelly&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;\\u00a9Sky-Shots Aerial Photography, Inc 2016&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Shops at Cascade &#038; Fairburn\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Shops at Cascade &#038; Fairburn&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Shops-at-Cascade-Fairburn.jpg?w=800\" class=\"wp-image-1004244914 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Shops-at-Cascade-Fairburn.jpg\" alt=\"Shops at Cascade &amp; Fairburn\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Shops-at-Cascade-Fairburn.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Shops-at-Cascade-Fairburn.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Shops-at-Cascade-Fairburn.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004244914\" class=\"wp-caption-text\">Shops at Cascade &amp; Fairburn<\/p><\/div>\n<p>GDC Properties has traded Shops at Cascade &amp; Fairburn, a 45,279-square-foot retail center in Atlanta, for $12.3 million. The buyer, a private investor, financed the acquisition with a $4.7 million mortgage funded by Deutsche Bank, according to Fulton County records. GDC previously acquired the shopping center in 2005 from Retail Planning Corp. for $5.6 million.<\/p>\n<p>Located at 3752 Cascade Road and 1195 Fairburn Road in Atlanta\u2019s Cascade corridor, the shopping center is alongside a major intersection exposing the asset to an estimated 29,100 vehicles per day. The property is 91.2 percent occupied, anchored by Walgreens and home to a mix of other tenants including Workout Anytime, Metro PCS, Domino\u2019s Pizza and a dental office.<\/p>\n<p><em>\u201cThe center is positioned in a submarket with little competition, the nearest significant retail corridor being five miles away, which results in a retail occupancy rate of 98 percent in the corridor,\u201d<\/em>&nbsp;said Craig Taylor, senior vice president at CBRE, in a prepared statement.&nbsp;<em>\u201cThe property\u2019s strategic position in a very densely populated and expanded trade area, along with its strong in-place tenancy, make this asset a great investment.\u201d<\/em><\/p>\n<p>A CBRE team led by Chris Decoufl\u00e9 and Taylor acted on behalf of the seller in the transaction.&nbsp;In June, another&nbsp;<a href=\"https:\/\/www.commercialsearch.com\/news\/kimco-trades-atlanta-area-retail-asset\/\">grocery-anchored shopping center<\/a> changed hands in the Atlanta suburb of Lilburn. Five Forks Crossing includes nearly 75,000 square feet, with a 62,000-square-foot Kroger anchoring the property.&nbsp;<\/p>\n<p><em>Image courtesy of CBRE<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>GDC Properties sold a Walgreens-anchored 45,279-square-foot shopping center in the city\u2019s Cascade corridor. A private investor purchased the asset using a Deutsche Bank loan. <\/p>\n","protected":false},"author":861,"featured_media":1004244914,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,21743,21783,21742,21749],"tags":[32789,32791,41315,33839],"class_list":["post-1004244911","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-atlanta","category-deals","category-investment","category-latest","category-retail","tag-cbre","tag-deutsche-bank","tag-gdc-properties","tag-walgreens"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Atlanta Retail Asset Trades for $12M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/atlanta-retail-asset-trades-hands\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Atlanta Retail Asset Trades for $12M\" \/>\n<meta property=\"og:description\" content=\"GDC Properties sold a Walgreens-anchored 45,279-square-foot shopping center in the city\u2019s Cascade corridor. 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