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 Pavilion at Southlake, a 13-unit 65,267-square-foot retail center in Morrow, Georgia, for $5,485,000. 

“This sale completed a strategic 1031 exchange,” said Eric Abbott, Director Investments. “We sold another strip center in Atlanta for the client, then identified and closed on this property to complete their exchange.” 

Abbott and Zach Taylor, investment specialists in Marcus & Millichap’s Atlanta office, represented the buyer in the transaction, a private group of high-net-worth doctors. Jeff Enck of Mathews Real Estate represented the seller. 

Pavilion at Southlake is located at 1331–1389 Mount Zion Road and occupies a 6.04-acre parcel. Tenants include national and regional brands such as Humana, H&R Block, LensCrafters and Bank of America. The property sits directly across from Southlake Mall and adjacent to a $117 million convocation center under development.