Marcus & Millichap Brokers $31.8M Sale of Multifamily Community in Metro Atlanta
KENNESAW, GA. — Marcus & Millichap has brokered the sale of Lewis House at Kennesaw, a 132-unit apartment property located in the Atlanta suburb of Kennesaw. The property sold for $31.8 million, which equates to approximately $240,530 per unit.
Walt Gill of True North Cos. built the Lewis House at Kennesaw. The Class A property was less than 30 percent occupied when it was brought to market. The community is located adjacent to several recreational and entertainment venues, including a new $10 million recreation center, a new 4,400-seat amphitheater and a 33-acre community park. The Lewis House is approximately 2.2 miles from Kennesaw State University. The property features a unique “big house” design concept that is single-family-home-like in appearance while providing apartment amenities and services to its residents.
John Brigel of Marcus & Millichap had the exclusive listing to market the property on behalf of the seller and procured the buyer, an undisclosed limited liability company. John Leonard of Marcus & Millichap assisted in closing the transaction.