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 Sugarloaf Village, a 32,060-square-foot retail center in Lawrenceville, Georgia, for $7,220,000. 

“Investor demand for well-located unanchored retail strip center product in north Atlanta’s growing suburbs remains strong,” said Eric Abbott, director investments in Marcus & Millichap’s Atlanta office. “Strip center supply is constrained and Sugarloaf Village’s mix of service-oriented tenants and market-to-market upside potential drove strong interest for the asset.” Abbott and Marcus & Millichap’s Zach Taylor represented the seller, a local private investor. 

Located at 1685 Old Norcross Road, Sugarloaf Village is positioned at the corner of Old Norcross Road and Sugarloaf Parkway, adjacent to State Route 316, which sees 108,000 vehicles per day. Built in 2008, the center’s 15 tenants include local businesses and service providers. The property has undergone more than $500,000 in recent capital improvements, including new paint, HVAC replacements, a new drainage system, upgraded LED lighting and parking lot repairs, while tenants have invested over $900,000 in buildouts.