Atlanta, GA (July 23, 2018) – CBRE has facilitated the sale of Shops at Cascade & Fairburn, a 45,279-sq.-ft. shopping center anchored by a freestanding Walgreens at 3752 Cascade Road and 1195 Fairburn Road in Atlanta. Located in the Cascade corridor within the city of Atlanta, just west of Interstate 285, the plaza is 91.2% occupied. Additional tenants include Workout Anytime, Great Expressions Dental, Metro PCS, and Domino’s Pizza. The property was acquired by 1195 Fairburn Road, LLC, for $12.3 million.
CBRE’s Chris Decouflé, Craig Taylor, Kevin Reavey, and Kevin Hurley represented the seller, GDC Cascade, LLC, in this transaction.
“The center is positioned in a submarket with little competition, the nearest significant retail corridor being five miles away, which results in a retail occupancy rate of 98% in the corridor,” said Craig Taylor, senior vice president at CBRE. “The property’s strategic position in a very densely populated and expanded trade area, along with its strong in-place tenancy, make this asset a great investment.”
Built in 2004, Shops at Cascade & Fairburn is passed by 29,100 vehicles per day. The center is positioned directly across from a Publix-anchored plaza, half a mile west of Interstate 285, four miles south of Interstate 20, eight miles southwest of downtown Atlanta, and nine miles from Hartsfield-Jackson International Airport. While there are 54,825 residents within a three-mile radius, Shops at Cascade & Fairburn draws from a wider trade area with 147,478 residents.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 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.
