Whopper of a Retail Sale
Essex Point Properties purchased One West Court Square Two, a 13k SF retail center in Downtown Decatur, for $7.7M, or a whopping $589/SF. (Aren't there supposed to be post holiday sales happening?)
The fully occupied center is leased to SunTrust, Chipotle, Cook's Warehouse, and Sherlock's Wine Merchants. (So you can hit up the SunTrust and then have a hell of an afternoon for yourself without ever leaving the parking lot.) Ackerman & Co's Shea Meddin and Jason Powell (seen here) brokered the sale for the firm, which owned the property.
We chatted with Jason about the property, who says Essex had it under contract in September, but waited until the new year to close. This is the investment firm's second Atlanta property. Next for him? Jason is marketing a portfolio of CVS drug stores in other cities for sale for a triple-net seller.
