ATLANTA-Coro Realty Advisors, LLC has purchased nearly 19,000 square feet of street-level retail at The Brookwood residential condominium building here.
The Atlanta-based firm acquired a total of 18,537 square feet of retail space that includes two restaurants—Saltyard, owned by principals of La Grotta Ristorante Italiano, and Watershed, which relocated to The Brookwood from Decatur. The building at 1820 Peachtree Road also includes 219 residential condominiums that were not part of the transaction. No terms of the deal were released.
Robert Fransen, partner of Coro Realty, says The Brookwood fits well with Coro's strategy of acquiring strategic infill properties. “We purchased this property due to its South Buckhead location, excellent visibility, ample parking, and proximity to affluent residential communities.”
Patti Pearlberg, partner of Coro Realty, adds, “The combinations of Class-A retail, Class-A residential and a Peachtree Road address make this a marquee retail property.”
The company states that it intends to stabilize the property through additional leasing and to hold the property for long-term cash flow and value appreciation.
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