Leasable Area
82,305 SF
Case Study: 3850 Venture Dr, Duluth, GA 30096
2 Min to read |
Stats
Retail3850 Venture Dr, Duluth, GA 30096Case Study: Utilized proprietary international investor pool to uncover the right buyer
Challenge
The sale of Venture Pointe faced significant challenges, due to its location in a sub-market near Gwinnett Place Mall in Duluth, GA . This mall is known for its complex market dynamics. Despite the retail asset’s potential, the surrounding area’s reputation posed a hurdle. Additionally, the substantial amount of available space of 82,305SF, presented major value-add opportunity that required careful positioning to attract the right buyers. The goal was to overcome these market challenges and secure a competitive price that met or exceeded the client’s expectations.
Strategy
To tackle these challenges, the agents leveraged our proprietary international investor pool, combining this with a maximum exposure platform and partnership with Auction.com. This strategic approach aimed to highlight Venture Pointe’s strengths, including its prime location within the Atlanta, GA, MSA, with a high-density population of 226,000 people within 5-mile radius. The agents emphasized the solid mix of national anchors and the high proportion of national and regional retailers- 79% of the current tenant roster -as well as the significant value-add opportunity presented by the available space. The campaign attracted a diverse range of interest from both traditional value-add investors and private owners/users, resulting in a highly competitive final bidding process.
Results
The strategic marketing efforts and the competitive bidding process led to an exceptional outcome. By effectively utilizing an international investor network and maximizing exposure through Auction.com, the agents surpassed [ricing expectations for Venture Pointe. The transaction achieved one of the highest prices for a retail asset in the sub-market. This demonstrates the agents ability to overcome challenging market conditions and deliver impressive results for the client.
Disclaimer: This deal was made at a different firm not through Matthews Real Estate Investment Services™.
Net Lease Retail
