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Institutional Property Advisors Closes North Atlanta Retail Center Sale

October 07, 2024
CUMMING, Ga., Oct. 7, 2024 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale of Vickery Village, a 59,601-square-foot retail center in Cumming, Georgia. The asset traded for $18.5 million.

“The property is the street-level retail portion of 188,000-square-foot Vickery Village Center, the original mixed-use master development in Forsyth County,” said Zach Taylor, IPA senior managing director investments in Atlanta. “The center is a generational piece of real estate in South Forsyth County, one of the top 10 most affluent and fastest-growing markets in the United States.” Taylor and Eric Abbott, Marcus & Millichap senior associate represented the seller, Vickery Village Community LLC, and procured the buyer, Vickery Village Retail LLC.

“Vickery Village currently has 27 tenants averaging 2,200 square feet, most of whom have been in occupancy since 2016,” said Abbott. “Many tenants want more space and there is a waiting list of potential future tenants.”

The residential portion of Vickery Village is 800-plus homes on 210 acres. A YMCA, middle school, and elementary school are next door and the Forsyth County Polo Fields, which include 50 acres of athletic and equestrian fields are across the street. Vickery Village’s town green hosts farmers’ markets, concerts, outdoor movies, and festivals. Built in 2006 on nearly 13 acres, the center’s retail tenants include restaurants and pubs, healthcare and beauty services, shops, boutiques, and specialty services.

 

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About Institutional Property Advisors (IPA)

Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.

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