3/14/2008

Grubb & Ellis purchases Home Depot building in suburban Atlanta

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Grubb & Ellis Realty Investors, LLC has purchased a Home Depot property in Austell, Ga., on behalf of its Wealth Management program from St. Petersburg, Fla.-based The Sembler Company.

Lori Schneider of Marcus & Millichap represented Sembler in the deal.

The single-tenant building contains 131,000 square feet and is located at 1200 East-West Connector in Austell, a town located approximately 17 miles west of Atlanta. It is situated on 15 acres and is currently 100 percent leased to Home Depot.

Grubb & Ellis has made numerous acquisitions in 2008 for its newly launched Wealth Management program, including a Fifth Third bank building in Montgomery, Ill., a CVS Pharmacy building in Decatur, Ga., and a two-building portfolio in Carpentersville and Northlake, Ill.

Sembler is a retail and residential development company with projects in the southeastern United States and Puerto Rico.

Address: 1200 East-West Connector, Austell, Ga.

Size: 131,000 square feet

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Filed Under: Retail

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