For Immediate Release
June 6, 2011
Coro Realty Advisors, LLC announces the acquisition by Daltex Pointe, LLC of the Pointe at West Cobb, 3451 Earnest Barrett Parkway, Marietta, Georgia. The Pointe at West Cobb consists of free-standing Walgreens, Applebee’s and Arby’s, 19,716 square feet of retail space and a 12,534 square foot, three-story office building. The property is 92% occupied.
John Lundeen, President of Coro, believes that the Pointe at West Cobb fits well with Coro’s philosophy of acquiring strategic infill properties. “We pursued this property due to its strong corner in a high traffic area adjacent to the Home Depot. We expect the continued growth in this area to continue to improve the property’s fundamentals.” The Pointe at West Cobb is located at the corner of Dallas Highway and Earnest Barrett Parkway. In addition to being adjacent to the Home Depot, the Pointe at West Cobb benefits from its proximity to Lowe’s, Publix, Staples and Target.
The acquisition of the Pointe at West Cobb was part of a larger purchase from Olympia Development Group coordinated by Coro Realty Advisors, LLC. Robert Fransen, Executive Vice President of Coro, noted “This was a rather complex transaction, involving four distinct sites, three purchasers, two title companies and several brokers, all of which had to close simultaneously. We are gratified that all of the parties, including Olympia, Allstate, American Realty Capital, Daltex Pointe, LLC, Ackerman & Co. and CB Richard Ellis, worked so tirelessly to help close this transaction.”
For More Information Please Contact:
Coro Realty Advisors, LLC.
3715 Northside Parkway
400 Northcreek – Suite 100
Atlanta, Georgia 30327