Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SANDY SPRINGS, GA-The City of Sandy Springs has acquired a 96,213-square-foot site at 235 Johnson Ferry Road to serve as the site of its future City Hall. The 7.7-acre site was purchased for $8 million from Target Corp., which recently vacated the location to relocate to a center half a mile south.

“When Target decided to relocate its Sandy Springs store to the redeveloped Prado Shopping Center, we felt that their former site could be the right option for the City,” says David Rubenstein, the Miller Richmond broker who handled the transaction on behalf of the buyer. “Fortunately, because of today’s soft retail and commercial real estate markets, we were able to negotiate an attractive purchase price for the city that would have been unimaginable a year or two ago. This was clearly an opportunistic buy.”

The City of Sandy Springs currently leases approximately 90,000 square feet within the Central Perimeter submarket, and has been looking for a site to build a City Hall for some time, Rubenstein tells GlobeSt.com. The recently purchased retail site is located in the center of the Atlanta suburb, which was incorporated in 2005, he says. Other likely buyers for this type of property, including other big-box retailers or developers, are scaling back right now, bringing about the low sale price and opportunity for the city, Rubenstein adds.

Plans for the new City Hall are still in preliminary stages, with no approximate value, groundbreaking or construction timetable set. It is unknown whether or not the city’s current office locations at 7840 Roswell Road within Morgan Fall Office Park will remain occupied by the government after the new buildings are completed.

Suzanne Washburn of CB Richard Ellis handled the transaction on behalf of the seller.

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
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


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 © 2021 ALM Media Properties, LLC. All Rights Reserved.