NC Meets SC in Suwanee

A stabilized retail center in the Atlanta suburb of Suwanee traded hands between two firms from the Carolinas.
Laurel Springs Village

Laurel Springs Village

A South Carolina investor recently acquired a retail asset in a northeast suburb of Atlanta from company registered in the Old North State. South Coast Commercial acquired Laurel Springs Village, a 21,710-square-foot shopping center in Suwanee, Forsyth County, from Laurel Springs Holdings. The transaction was worth $4.1 million

Built in 2004, the shopping center is 100 percent occupied, anchored by sports retailer Titan Team Sports, and it features 10 suites occupied by a diverse tenant mix. The property is situated at 3590 and 3592 Old Atlanta Rd., between Interstate 85 and State Route 400. The location grants quick access to Johns Creek, Alpharetta, Sugar Hill and Buford.

Transwestern’s Southeast Investment Services Group represented Laurel Springs Holdings in the disposition. Managing Director Kevin Markwordt and Vice President Fred Victor negotiated the sale on behalf of the North Carolina-based seller. Forsyth County experienced a 77 percent population increase from 2000 to 2009, and Forbes ranked it the seventh fastest-growing county in the US in 2013.

Photo credit: Transwestern