May 29, 2020
Ackerman & Co. and SSG Realty Partners Broker Sale of Mixed-Use Porter on Peachtree Site in Brookhaven, Ga. for $15.8 Million
Project to include 291 apartments; Ackerman Retail’s Kelly Wilson to lease 17,600 SF of ground-level retail.
ATLANTA, May 29, 2020 – A 4.6-acre parcel in Brookhaven, Ga., that will be the Porter on Peachtree mixed-use project has been sold for $15.8 million. John Speros of Ackerman & Co. and David Branch of SSG Realty Partners represented the seller, SDS Real Property Holdings.
Atlanta-based apartment developer Wood Partners purchased the prime piece of real estate located at 3920 and 3930 Peachtree Road for the development of Porter on Peachtree, a six-story mixed use project that will include 291 apartments and 17,600 square feet of ground-level retail. Upon completion of construction, SDS will buy back the retail portion of the project.
Kelly Wilson, Senior Vice President of Ackerman Retail, will lead the leasing efforts for the project’s retail space. Porter on Peachtree benefits from its location along Peachtree Road, Atlanta’s premier business and retail corridor, and its proximity to the Brookhaven MARTA station.
“Because the seller is purchasing the retail portion of the development at completion, this was a very complex transaction that was several years in the making,” said John Speros. “We’re very pleased to complete this sale on behalf of SDS Real Property Holdings and that Ackerman Retail has been retained to carry out the leasing for the project’s retail space.”
Construction on the project is expected to begin immediately, with completion scheduled in 18 to 20 months.
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 37 million square feet of office, medical, industrial, retail and mixed-use space, has 4 million square feet under management, and maintains an investment portfolio valued at $1 billion. For more information, visit www.ackermanco.com