Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a 3,865-square-foot net-leased property tenanted by Truist Bank in Flowery Branch, GA. The asset sold for $2.3 million, according to John M. Leonard, regional manager of the firm’s Atlanta office.

Don McMinn, of Marcus & Millichap’s Taylor McMinn Retail Group in Atlanta, had the exclusive listing to market the property on behalf of the seller, a private investor.   

The property is located at 4676 Hog Mountain Rd in Flowery Branch, GA. off I-985, which sees approximately 57,500 VPD. It is less than an hour north of Atlanta in Hall County, which is among the top 50 fastest growing metros in the country with a total population of 184,814. Tenanted by Truist Bank, the property is an outparcel to Stonebridge Village, a 157,002-square-foot Target-anchored power center that receives over two million annual visitors due to its superior location, visibility and access in the market. Truist has an absolute triple-net lease with the property and is 100% responsible for all expenses, including taxes and insurance.

“This transaction illustrates the current peak demand for quality net lease inventory in the market today,” said McMinn. “Due to this demand, and current supply constraints, we are seeing record cap rate compression and historic pricing for our sellers. There is no better time to be a seller than the present.”

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