February 6, 2019
Ackerman Retail Closes Sale of Family Dollar Store in LaFayette, Ga.
Brokers Sean Patrick and Stephen Lapierre represent owner in sale of 8,416-square-foot store at full asking price
ATLANTA, February 7, 2019 – Ackerman Retail Senior Vice President Sean Patrick and Vice President Stephen Lapierre have completed the sale of a Family Dollar store in LaFayette, Ga., on behalf of the seller, the Hegerl Family, to Atlglen Management Corp. for $240,000, at the full asking price and 8% cap rate. The sale closed on January 21.
The 8,416-square-foot store is located at 311 South Main Street in north Georgia, approximately 30 miles from Chattanooga, Tenn.
“Family Dollar has a nearly 40-year history of operating at this location, and the retailer recently signed a five-year renewal option. This acquisition enables the buyer to receive a stable flow of income and the opportunity for future upside when the final renewal option expires,” said Sean Patrick.
The store is located within a retail district that includes Walmart Supercenter, Bealls Outlet, Goody’s, CVS Pharmacy, Goodwill, Fred’s and Food City. Family Dollar now has more than 8,000 stores in 46 states across the United States.
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 more than 37 million square feet of office, medical, industrial, retail and mixed-use space, has nearly 8 million square feet under management and maintains an investment portfolio valued at $1 billion.
Ackerman Retail, a division of Ackerman & Co., offers a best-in-class services platform, delivering solid results for local and multi-market clients across the Southeast. To date, Ackerman Retail has completed more than 10 million square feet of transactions valued at $1.7 billion.
For more information, visit www.ackermanco.com