The Marquis on Berkeley, 2580 N Berkeley Lake Rd., Duluth, GA The Marquis on Berkeley, 2580 N Berkeley Lake Rd., Duluth, GA

DULUTH, GA—Cushman & Wakefield has arranged the $52.1 million sale of The Marquis on Berkeley, a 323-unit, 17-building apartment community located at 2580 N. Berkeley Lake Rd., Duluth, GA. Mike Kemether, Travis Presnell and Josh Goldfarb of Cushman & Wakefield represented the seller in the transaction. A local operator acquired the property for $161,310 per unit. Identities of the buyer and seller were not disclosed.

According to Real Capital Analytics, a proprietary research database, the last sale of the property was in 2013, when CWS Capital Partners, a private investor based in Newport Beach, CA, acquired the property from Vinings, GA-based Paces Properties.

“One of the biggest changes that has taken place in Atlanta over my career is that Gwinnett County has transformed from a commodity multifamily market to a barriers market with a business-oriented government serving over 1 million people,” Kemether says. “For these reasons, most Gwinnett properties have performed really well.  The Marquis on Berkeley is a fantastic product, and it will be fun to see what the buyer can do with such a great canvas.”

Built in 2002, The Marquis on Berkeley is located within the Northeast Atlanta path of progress, just minutes from millions of square feet of class A office space, thousands of jobs, national retail, major entertainment centers and back-door access to North Fulton. Amenities include a playground, expansive sundeck, fitness center, garages, lighted tennis courts and a resort-style pool.

Cushman & Wakefield’s Southeast Multifamily Advisory Group closed $4.8 billion in 2017 sales volume through 268 deals and more than 55,000 units.