Northmarq, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a brand new freestanding retail property located at 401 South Main Street in Cleveland, Georgia. The 2,800-square-foot property is fully leased to T-Mobile. The asset sold for $1.8 million to a private investor based in Suwanee, Georgia represented by Doug Clyburn and Julie Clyburn of Northmarq. The seller was an Alabama-based developer.
“We were happy to represent one of our repeat clients in the purchase of this newly constructed property,” said Doug Clyburn, Associate Director in Northmarq’s Alpharetta, Georgia office. “The buyer was looking for a solid investment with little or no management responsibilities, and this new T-Mobile location checked all the boxes.”
Located on the city’s main retail corridor, the store neighbors national retailers including Walmart, Taco Bell, McDonald’s, Tractor Supply, AutoZone, and many more. Additionally, the brand new property is located just across the street from the proposed 37,000-square-foot City of Cleveland Municipal Complex which will soon house city hall, fire, police and a community center.