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Avison Young brokers $4.9 million sale of single-tenant retail property occupied by CVS in Carrollton, GA

Avison Young brokers $4.9 million sale of single-tenant retail property occupied by CVS in Carrollton, GA 28 Jul 2021

Los Angeles, CA – Avison Young announced today the $4.925 million sale of a 12,961 square-foot (sf) single-tenant retail property occupied by CVS at 2125 Maple Street in Carrollton, GA.

Avison Young Principals Chris Maling and David Maling, who are based in the company’s downtown Los Angeles office, represented the buyer, Los Angeles-based Laguna Monarch Group, Inc. The seller, a New Jersey-based private equity group, was represented by Cushman & Wakefield of San Diego, Inc.

Built in 2006, the property is situated on just under 1.5 acres of land and is one mile from University of West Georgia with over 13,700 students. The site is located at the signalized intersection of Maple Street and State Route 166.  

“This essential needs retailer has been at this location since 2006 and has 19 years remaining on its corporate-guaranteed triple net lease,” said Chris Maling. “The new ownership saw the intrinsic value in the tenant, its highly visible location within a busy retail center, and the large trade area.”

He added, “This is another example of California capital looking to exit the state and invest in other states across the country.”

Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.

Avison Young is a 2021 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 10 consecutive years.

 

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For more information:

  • Chris Maling, Avison Young +1 213 618 3824 
  • David Maling, Avison Young +1 213 618 3825