CUMMING, GA—The Brannon Crossing Shopping Center here has changed hands in a deal valued at $15 million.

The 60,780-square-foot shopping center was sold by Brannon Crossing, LLC to an undisclosed buyer. Brokerage firm Avison Young, which represented the seller in the transaction, reported the sale. Avison Young's Fort Lauderdale-based principals AJ Belt III and Brian Mark, and David Duckworth, vice president of investment sales, completed the Brannon Crossing transaction on behalf of the seller.

Built in 2007, Brannon Crossing is situated at the signalized intersection of Peachtree Parkway (SR 141), the dominant thoroughfare through Forsyth County, which travels south through the heart of Atlanta and Ronald Reagan Boulevard. Key tenants include a sit-in/drive-through Starbucks and a T-Mobile store.

“The Atlanta Metro area is showing signs of strong recovery and is now back on the radar of most investors after previous years of slow retail real estate activity,” says Avison Young's Belt. “Retail investment deals are becoming more attractive to both institutional and private equity investors as underlying economic fundamentals, including decreasing vacancy rates and rising rents, continue to improve. As such, our team was able to position Brannon Crossing as a premier investment asset resulting in the quick, successful sale of the property.”

Avison Young says the transaction, one of the larger retail property sales in Cumming to-date in 2014, comes on the heels of the firm's recent disposition of the 27,057 square-foot Lindbergh Crossing Shopping Center in Atlanta for $7.06 million.