Marcus & Millichap Negotiates $2.3M Sale of CVS-Anchored Retail Property in Metro Atlanta
LILBURN, GA. — Marcus & Millichap has negotiated the $2.3 million sale of a 13,375-square-foot retail property in Lilburn. CVS/pharmacy anchors the three-tenant asset, which was also leased to Lee Nails and Domino’s Pizza at the time of sale. The property is situated at 5575 Lawrenceville Highway, 18 miles northeast of downtown Atlanta. Zach Taylor of Marcus & Millichap’s Taylor McMinn Retail Group represented the seller, the Schwaighoffer Brothers, in the transaction. The buyer was Atlanta-based M&P Shopping Centers.
“We generated seven offers in the first few days on the market,” says Taylor. “This activity was a clear illustration of the renewed desirability that essential tenants like drug stores currently demand.”