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ATLANTA-Big deals come in small packages at times in the metro area’s 100-million-sf retail market. In the biggest retail deal of its kind here in at least five years, the Shopping Center Group of Atlanta brokered the sale of the newly completed 10,170-sf Hamilton Mill strip center at 3475 Braselton Highway in Gwinnett County, 25 miles north of Downtown Atlanta. Two separate shopping center sales went for over $100 per sf.

Chicago-based Pursuit Real Estate Development Co. sold the 80%-leased property to Atlanta investor Wallace Hoover for more than $3.1 million or about $313 per sf. “It’s the highest price-per-sf (property) to trade in Atlanta to date,” Janice Wetter, director of the Shopping Center Group’s transaction management team, tells GlobeSt.com. Shopping Center Group brokers Mark Cooley and Drew Rutherford negotiated for the seller.

“The property was on the market for one week and the entire deal, from contract signing to closing, took 10 days,” Cooley tells GlobeSt.com. The deal was done at this time because Pursuit Real Estate Development is “a merchant builder who builds and sells as soon as the product is completed,” Cooley says.

Hamilton Mill’s tenant roll include a Starbucks, drycleaners, nail salon, hair salon, Cingular Wireless and Outback Tanning. The average asking base rent range is $28 per sf. The pro-forma’s cap rate was 7.7%.

In two separate transactions, the Shopping Center Group brokered the $3.5-million sale of Crossings at Westwind in north Roswell, GA and the $9.5-million sale of the 880 Holcomb Bridge center, also in Roswell. Cooley handles the Crossings at Westwind deal and teamed with colleague Neal Pringle to broker the 880 Holcomb Bridge center.

Atlanta investor Stephen Chang purchased the four-year-old, 21,000-sf Crossings at Westwind from locally based Young Contracting Co. for about $166.57 per sf. Major tenants at the 100%-leased property are Caribou Coffee and Beef O’Brady’s. The average asking base rent range is $19 to $20 per sf. The property is on Highway 92 and King Road, about 15 miles north of Downtown Atlanta.

In the 880 Holcomb Bridge transaction, local investor Airport Plaza Properties paid Atlanta-based Wells Real Estate Funds $9.5 million, or about $169.64 per sf, for the 12-year-old, 56,000-sf center. Major tenants at the 90%-leased asset are Brookwood Grill, American Trust Bank, Mythos Restaurant and Veterans Mortgage. The average asking gross base rent is $18.75 per sf.

“Activity is picking up,” Cooley tells GlobeSt.com. “We’ve been busy.”

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