Avison Young Brokers $4.2 million sale of CVS-occupied property in Sandersville, GA

Avison Young Brokers $4.2 million sale of CVS-occupied property in Sandersville, GA 21 Sep 2021

Los Angeles, CA – Avison Young announced today it has brokered the $4.2 million sale of a 12,089 square-foot (sf) single-tenant retail property occupied by CVS at 206 S. Harris Street in Sandersville, 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 710 E. Katella. The seller, a private equity group from New York, was represented by Cushman & Wakefield.

Built in 2006, the property is situated on just over 1.6 acres of land in the heart of Sandersville. The site is located one block south of Washington County Courthouse in the center of town.  

“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 and its consistently strong sales.”

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