Atlanta-Area Community Trades in $47M Deal
The Reserve at Johns Creek Walk centers on a divided median boulevard, designed to evoke an old downtown with 20th century-style architecture.
By Timea Papp
CBRE has brokered the sale of a mixed-use community in Johns Creek, Ga. Mesirow Financial sold the Reserve at Johns Creek Walk to LaSalle Investment Management Inc. for $47.3 million deal, public records show.
Located at 6215 Johns Creek Commons, the property encompasses 210 one-, two- and three-bedroom units, 50,000 square feet of neighborhood retail space and 20,000 square feet of office space completed in 2007. The residential and commercial uses center on a divided median boulevard, designed to resemble an old downtown, evoking early 20th century neighborhood architecture. Community amenities include:
- 24-hour cyber café
- Conference room
- Swimming pool
- Outdoor kitchen
- 24-hour fitness center
- Pet spa
- Car care center
- Attached and detached garages
“It has become difficult to develop multifamily properties in the Johns Creek area, which has led to a lack of quality developments recently. The Reserve at Johns Creek Walk has been and will continue to be a unique asset to this community,” said Alasdair Cripps, CEO & Co-CIO of Mesirow Financial’s Direct Real Estate group, in prepared remarks.
Select homes at the complex feature built-in desks, bay windows, and fireplaces, while each luxury apartment provides residents with:
- Stainless steel appliances
- 9-foot ceilings
- Granite countertops
- Double crown molding
- Brushed nickel designer hardware
- Intrusion alarms
CBRE’s Southeast Multifamily investment team of Vice Chairman Paul Berry and Senior Vice Presidents Ashish Cholia and Shea Campbell represented the seller in the transaction. Situated along Peachtree Parkway in Atlanta’s North Fulton Submarket, the community provides access to Johns Creek Greenway Trail and is in the vicinity of shopping, dining and entertainment venues including J Crew, Trader Joe’s, Rumi’s Kitchen, Laser Voyage Café, St. Ives Country Club and the Georgia Aquarium.
Image courtesy of Mesirow Financial