Representing the highest price per square foot achieved for unanchored multi-tenant retail in metropolitan Atlanta for 2013, Lavista Associates, Inc. is pleased to announce the sale of Camp Creek Pointe in East Point, Georgia for $613.64/SF.
Totaling 4,400 square feet, Camp Creek Pointe is a Class A retail property adjacent to Camp Creek Marketplace, the commercial cornerstone of the South Fulton market. The building was 100% leased to Starbucks Corporation and T-Mobile US, Inc., both publicly traded credit tenants. Phil Ryan with Lavista Associates, Inc. represented the Seller, Branch Properties, LLC in the transaction.
Lavista's retail sales research identified 120 multi-tenant retail sales in metropolitan Atlanta during 2013 totaling 3,009,588 SF with an aggregate sales volume of $272,177,297.00. All indications point to a continued increase in sale prices in 2014, with overall sale volume expected to exceed 2013 numbers. Clearly the general markets recovery will translate to rising pricing going forward.