California-based LBX Investments has purchased the 62,719-square-foot Village at Chapel Hill in Douglasville, Ga. HFF worked on behalf of the seller, Cole Credit Property Trust IV Inc. According to Douglas County records, the asset last traded in early 2015 for $14.9 million.
Directors Brad Buchanan and Mike Allison, Senior Managing Director Jim Hamilton and Analyst Andrew Kahn were part of the HFF team that brokered the sale.
Situated at 3020 Chapel Hill Road, the property is less than 1 mile from Interstate 20 and provides access to more than 3.5 million square feet of retail space, with more than 39,000 people in the surrounding area. Additionally, downtown Atlanta is 23 miles away.
Completed in 2009 on a 10.1-acre site, Village at Chapel Hill is anchored by an LA Fitness and Aldi. The tenant roster includes Yogli Mogli, Blue Agave Mexican Restaurant, Chapel Hill Dentistry and One Main Financial. At the time of sale, the retail center was 97 percent occupied.
In February, another HFF team brokered the $8 million sale of a 46,904-square-foot shopping center in Tampa, Fla.
If you’d like to be featured in Brokers’ Corner, send your deal to email@example.com.