CBRE has arranged the sale of The Grandstand, a 680-unit multifamily property in Atlanta’s Cumberland/Galleria submarket at 3500 Windcliff Drive Southeast in Marietta, GA. Situated in one of Atlanta’s largest employment centers with 79,000 workers, residents at The Grandstand have immediate access to the new Interstate 75 express lanes. Bridge Investment Group acquired the property.
CBRE’s Shea Campbell represented the seller, Castlegate Property Group, in the transaction.
“The Grandstand offers new ownership tremendous headroom given the significant rent spreads achieved by nearby, fully renovated communities,” said Mr. Campbell, senior vice president at CBRE. “The Cumberland Galleria area is deep into its transformation from what was once a stable, suburban office submarket into a vibrant, infill, live-work-play destination with the SunTrust Park and The Battery as major catalysts.”
Completed in 1986, The Grandstand’s amenities include a newly renovated leasing office with business center and coffee lounge, two pools, a modern clubhouse, state-of-the-art fitness center, pet park, playground, and lighted tennis courts, among others.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
