April 5, 2016
Ackerman Arranges the Sale of 57,219 Square Feet of Retail to Coro Realty in Alpharetta, Ga.
Atlanta, April 5, 2016 – Ackerman & Co. announced today that it has arranged the sale of North Point Village Phase I, a 57,219-square-foot retail center in the Atlanta suburb of Alpharetta, Ga. The buyer, Coro Northpoint, LLC, purchased the property in an off-market transaction coordinated by Ackerman & Co. senior brokers John Speros and Sean W. Patrick, CCIM. The team represented the seller, Northpoint Village One, LLC.
The asset sold for $17,195,000. North Point Village Phase I is anchored by Talbots, JoS. A. Bank, Ann Taylor Lofts, Lane Bryant and Learning Express. “The trend continues to see capital chase well located, open air centers with accessible parking that will provide long term value for investors and operators,” said Senior Vice President John Speros.
North Point Village Phase I is located across the street from North Point Mall in the high demand Northpoint Retail Corridor that boasts nearly 10 million square feet of retail. “This purchase was a great opportunity for Coro,” said Vice President of Investment Sales Sean W. Patrick, CCIM. “The center was built within 200 feet of Northpoint Parkway, allowing for greater visibility, increasing customer walkability experience and enabling cross-shopping,” he added.
– About Ackerman & Co. –
Headquartered in Atlanta, Ackerman & Co. is a privately held, full-service commercial real estate firm focused on providing quality investment, brokerage, management and development services in the Southeast. The company, founded in 1967, retains an expert team of more than 100 real estate professionals. To date, Ackerman & Co. has developed and acquired nearly 35 million square feet of office, medical, industrial, retail and mixed-use space, has more than 7 million square feet under management, and maintains an investment portfolio valued at $1 billion. For more information on Ackerman & Co., visit www.ackermanco.com