Walgreens-Anchored Center in Cascade Road Corridor Trades Hands
The nearest significant retail corridor is five miles away, resulting in a retail occupancy rate of 98% in the corridor.
ATLANTA, GA—1195 Fairburn Road has acquired Shops at Cascade & Fairburn, a 45,279-square-foot shopping center anchored by a freestanding Walgreens, at 3752 Cascade Road and 1195 Fairburn Road in Atlanta, for $12.3 million. Located in the Cascade corridor within the city of Atlanta, just west of Interstate 285, the plaza is 91.2% occupied. Additional tenants include Workout Anytime, Great Expressions Dental, Metro PCS, and Domino’s Pizza.
CBRE’s Chris Decouflé, Craig Taylor, Kevin Reavey, and Kevin Hurley represented the seller, GDC Cascade, in this transaction.
“The center is positioned in a submarket with little competition, the nearest significant retail corridor being five miles away, which results in a retail occupancy rate of 98% in the corridor,” says Craig Taylor, senior vice president at CBRE. “The property’s strategic position in a very densely populated and expanded trade area, along with its strong in-place tenancy, make this asset a great investment.”
Built in 2004, Shops at Cascade & Fairburn is passed by 29,100 vehicles per day. The center is positioned directly across from a Publix-anchored plaza, half a mile west of Interstate 285, four miles south of Interstate 20, eight miles southwest of downtown Atlanta, and nine miles from Hartsfield-Jackson International Airport. While there are 54,825 residents within a three-mile radius, Shops at Cascade & Fairburn draws from a wider trade area with 147,478 residents.