Press Releases
Marcus & Millichap Arranges $8.3 Million Sale and $5.8 Million Financing of Retail Center in Southwest Atlanta
January 06, 2025
ATLANTA, Jan. 6, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale and financing of Hightower Station, a 56,300-square-foot retail property in Atlanta, Georgia, for $8.3 million.
“This transaction was a seamless collaboration on the Marcus & Millichap platform. My team represented the seller, a family office based in Atlanta. The buyer was represented by our Orlando office, and the debt was secured by our capital markets team,” said Zach Taylor, senior managing director investments.
Taylor and Eric Abbott exclusively marketed the property on behalf of the seller, while Salim Valiani and Shujan Valiani secured the buyer, an out-of-state private investor.
“The sale highlights the continued demand and resilience of multi-tenant retail assets in today’s market,” added Shujan Valiani, associate.
A 10-year loan was sourced by Garrett Fierstein, senior director with Marcus & Millichap Capital Corporation (MMCC), a subsidiary of Marcus & Millichap. Terms include a 6.75% interest rate with 25-years amortization and a loan-to-value of 70%.
Located at 2630 Martin Luther King Jr. Drive SW, the retail center is anchored by Dollar Tree and SMART Academy Charter School, which occupies 70% of the property. Built in 1989, Hightower Station sits on a 6.31-acre lot at the intersection of interstates 285 and 20. The property includes 14 tenants including Subway, Dollar Tree, Cricket Wireless and other established local businesses.
“This transaction was a seamless collaboration on the Marcus & Millichap platform. My team represented the seller, a family office based in Atlanta. The buyer was represented by our Orlando office, and the debt was secured by our capital markets team,” said Zach Taylor, senior managing director investments.
Taylor and Eric Abbott exclusively marketed the property on behalf of the seller, while Salim Valiani and Shujan Valiani secured the buyer, an out-of-state private investor.
“The sale highlights the continued demand and resilience of multi-tenant retail assets in today’s market,” added Shujan Valiani, associate.
A 10-year loan was sourced by Garrett Fierstein, senior director with Marcus & Millichap Capital Corporation (MMCC), a subsidiary of Marcus & Millichap. Terms include a 6.75% interest rate with 25-years amortization and a loan-to-value of 70%.
Located at 2630 Martin Luther King Jr. Drive SW, the retail center is anchored by Dollar Tree and SMART Academy Charter School, which occupies 70% of the property. Built in 1989, Hightower Station sits on a 6.31-acre lot at the intersection of interstates 285 and 20. The property includes 14 tenants including Subway, Dollar Tree, Cricket Wireless and other established local businesses.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
