X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ATLANTA-Atlanta Land Group says it has closed three transactions totaling 172 acres at more than $30 million. The deals involve two tracts in the city’s Northeast submarket and one in rural Troup County.

The transactions include the sale of 31 acres at the southwest quadrant of Interstate 85 and Georgia 20 in Gwinnett County to BrandsMart USA. The seller, auto dealer Bill Heard Enterprises, received $15.3 million in the deal, or roughly $500,000 per acre. BrandsMart, a consumer appliances and electronics retailer, plans to build its fourth local store at the site.

ALG also represented a private investment group in its $14.8-million purchase of 137 acres from Craven Pottery at the US 441 interchange with I-85 in Commerce, a Jackson County suburb that is an emerging corridor for big-box retail. The transaction marks the largest land deal so far this year in the I-85 corridor north of the Mall of Georgia.

In West Point, hotel developer Nimish Inc. bought four acres for $870,000 at I-85 and Kia Boulevard, where an interchange is scheduled for completion by the end of this year. ALG represented Nimish, which plans to build a 120-room Holiday Inn Express and an upscale suites hotel next year near the site of a new Kia Motors Corp. automotive plant.

“We continue to see strong demand for metro Atlanta and north Georgia parcels as the region maintains vibrant growth,” Robert Armstrong, ALG president and co-founder, stated in a release. “Retailers, developers and investors can envision and unlock the possibilities and opportunities that these tracts offer.”

ALG has been in business since 1999 and specializes in marketing developed and undeveloped property within metropolitan Atlanta and surrounding areas of the Southeast. Property types cover all sectors of commercial real estate in urban and rural communities.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.