9/30/2008

Southern retail portfolio up for $35M

by
Marcus & Millichap has been hired by a Georgia developer to market and sell a portfolio consisting of various retail and office properties throughout Georgia and Florida. The asking price is $35 million.

Marc Strauss, VP of investments in the firm's Fort Lauderdale office, and Brian Rosen are representing the Georgia developer in the offering.

The portfolio is comprised of three Walgreens stores in Georgia -- Lithia Springs, Acworth and Marietta -- and one in Naples, Fla. It also contains four buildings adjacent to the Marietta Walgreens, a net-leased Arby's, a ground-lease Applebee's, a fully leased retail strip center and a two-tenant office building.

All the Walgreens properties are under long-term net-leases and the portfolio must be purchased together.

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Filed Under: Retail

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