ATLANTA, GA - CBRE has arranged the sale of a 308-unit multifamily property in Peachtree Corners, Georgia, north of Atlanta. Corners 1700 traded from M Banks Realty, a Sage Equities subsidiary to Bridge Investment Group. CBRE’s Shea Campbell represented the seller.
Corners 1700 is in a major employment hub with proximity to an active office market, the fast-growing Interstate-85 industrial corridor and Gwinnett County, which alone offers more than 460,000 jobs. The property is zoned in a top school district, which presented a rare opportunity for investors to enter the vibrant Peachtree Corners market with a value-add asset. Corners 1700 not only benefits from its proximity to outside employments hubs, it is in the middle of Atlanta’s largest and fastest-growing jobs center, as Gwinnett County employs 462,438 workers, falling just short of Downtown, Buckhead, Midtown, Perimeter Center and Alpharetta combined.
“Gwinnett County is a titan of economic development,” Campbell said. “Though just outside of the Gateway85 Community Improvement District, Corners 1700 reaps the benefits of the organization, which is poised to improve the surrounding area by raising property values and providing economic development incentives.”
Atlanta’s multifamily market continues to rank among the top performing markets in the U.S. As one of the fastest-growing job and population growth markets, Atlanta draws multifamily investors nationally and internationally. The multifamily market is expected to continue to thrive as the city attracts more residents, corporations and entertainment.
About CBRE Group, Inc. CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com