March 27, 2020 Comments Off on Stockbridge Snags Target-, Taco Bell-Occupied Asset Near ATL for $20M Views: 590 Atlanta, Atlanta News, Top Atlanta

Stockbridge Snags Target-, Taco Bell-Occupied Asset Near ATL for $20M

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San Francisco-based Stockbridge Capital Group acquired two single-tenant properties in metro Atlanta from Scarlett & Associates for $19.7 million. The adjoining parcels, on North Druid Hills Road at Briarcliff Road, are occupied by a 154,000-square-foot Target and 2,272-square-foot Taco Bell.

The 13.86-acre property is ideally situated within a half-mile of two of Atlanta’s largest hospital systems, Emory Healthcare and Children’s Healthcare of Atlanta (CHOA). The North Druid Hills corridor property serves a densely-populated, affluent trade area with an average household income of $107,790 and total population of more than 140,000 within three miles.

Transwestern Real Estate Services’ Fred Victor and Jon Kleinberg represented the seller.

“This was a unique opportunity to invest in two highly-rated brands in a phenomenal location with secure cash flow through long-term leases,” said Victor. “We expect their popularity and demand to only increase as development continues in the immediate area.”

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