Transwestern’s Southeast Investment Services Group today announces it brokered the disposition of Riverstone Mill for $5.7 million, or $132 per square foot. South Carolina-based South Coast Commercial acquired the 43,350-square-foot, ALDI-anchored shopping center at 553 Riverstone Parkway in Canton, Georgia, a northwest suburb of Atlanta. Transwestern Vice President Fred Victor represented the seller, Coro Realty Advisors LLC, in the transaction.
“Riverstone Mill’s long-term tenancy, strong anchor performance and exceptional returns made it a compelling investment,” said Victor. “In addition, at 87 percent occupancy, the property offers value-add opportunity through lease up.”
Riverstone Mill was developed in 2002 to institutional-quality standards, featuring prominent signage, convenient egress/ingress and excellent curb appeal. The property is located 1 mile from Exit 20 on Interstate 575, across the street from the 315-unit Canton Mill Lofts and 0.5 miles from Northside Hospital-Cherokee, in one of Cherokee County’s well-known retail nodes.
Riverstone Mill is situated in Cherokee County’s most affluent residential neighborhood. With a total population of 227,943, Cherokee County is Georgia’s fifth fastest-growing county, experiencing population growth of 315 percent from 1980 to 2010.
ABOUT CORO REALTY ADVISORS
Coro Realty Advisors, LLC was founded in 1997 and is synonymous in Atlanta and the Southeast with intelligent real estate development and investment. The firm engages in Investment, Asset Management, Leasing and Property Management for a myriad of residential and commercial properties throughout the Southeastern United States.
ABOUT TRANSWESTERN’S SOUTHEAST INVESTMENT SERVICES GROUP
Transwestern’s Southeast Investment Services Group (Southeast ISG) combines capital markets and investment banking expertise, local market knowledge and proven transaction execution to provide strategic disposition services for multifamily, office, retail, industrial and land assets located in Alabama, Georgia, Florida, Mississippi, North Carolina, South Carolina and Tennessee. Based in Atlanta with an office in Miami, Transwestern’s Southeast ISG has established a successful track record for maximizing value and creating lasting relationships with clients that range from local entrepreneurs to the largest corporations in the country.
Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Management, Tenant Advisory, Capital Markets, Research and Sustainability services, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Transwestern has 34 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate.