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AUSTELL, GA-The 14.46-acre ground lease for a 130,948-sf Home Depot at the intersection of Floyd Road and the East-West Connector has been sold for $9.6 million. The seller was a private investor.

Marcus & Millichap regional manager in the Atlanta office John Leonard and first vice president and senior director of the National Retail Group in the Fort Lauderdale office Lori Schneider arranged the sale. “The new owner of this property should enjoy excellent appreciation,” Schneider says. “The investor paid a reasonable price per sf for the land and building, with zero maintenance on this ground lease.”

The newly constructed Home Depot signed a 20-year triple net lease, which began in April 2007. Other retailers located close to Home Depot include Marshalls, Staples, Borders, LA Fitness and Starbucks.

The Home Depot is located across from East West Commons, a shopping center anchored by Lowe’s Home Improvement, Target, Goody’s, Office Max, Old Navy and Wal-Mart Supercenter. Other retailers include Atlanta Bread Co. and the Shoe Depot.

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