Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the $5,525,000 sale of Hiram Square, a 27,930-square-foot neighborhood retail center in Hiram, Georgia, a growing suburb of Atlanta. 

“We executed a strong marketing campaign leading up to the Auction Event for Hiram Square. Our team garnered 250 signed confidentiality agreements from investors across the country, with 57 registered bidders set to compete on auction day,” said Mike Banwell, vice president of Auction Services. “All fully approved bidders were carefully vetted, ensuring they had the liquidity to purchase the property non-contingent at signing.” 

Zach Taylor and Eric Abbott, investment specialists in the firm’s Atlanta office, collaborated with Mike Banwell of Marcus & Millichap’s Commercial Property Auction Services to market the asset and secure the buyer, a local private investor. 

Located at 5157 Jimmy Lee Smith Parkway, Hiram Square is a two-building retail center anchored by Burn Boot Camp and Mellow Mushroom, with other national and franchise tenants such as Yogli Mogli and Criterion Designs. The center, built in 2006, is positioned in a high-traffic retail corridor with more than 39,600 vehicles passing daily and surrounded by over 2.3 million square feet of retail, including major retailers such as Target, Walmart, Sam’s Club, and Home Depot.