Cannon Equities Sells Retail And Office Space Totaling 62,264 SF In Suburban Atlanta

Transwestern Negotiates Disposition on Behalf of Seller

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Mar 04, 2015, 07:15 ET

ATLANTA, March 4, 2015 /PRNewswire/ -- Transwestern's Southeast Investment Services Group today announces it brokered the disposition of 62,264 square feet of retail and office space at Vickery Village, a master-planned community located at 5755 S. Vickery St. in Cumming, Georgia. The transaction includes a 57,064-square-foot retail building and a 5,200-square-foot office building. Transwestern Vice President Fred Victor represented the seller, Atlanta-based Cannon Equities, in the transaction. The property was acquired for an undisclosed amount by Evolution Real Estate Partners.

"The Vickery Village transaction allowed Cannon Equities to maximize returns by adding substantial value through leasing to stabilization," said Victor. "Cannon successfully increased occupancy from 38 to 93 percent within three years, in addition to maintaining the property's pristine condition through elite management services."

"We were very pleased with Transwestern's ability to shepherd an extremely complex project through successful disposition," said Cannon Equities' Alex Brennan, executive vice president.

Designed by award-winning, Miami-based architect Duany Plater-Zyberk and Co., Vickery Village was completed in 2006 and includes 200,000 square feet of retail, restaurant and office space, as well as more than 400 condominiums, townhomes and single-family residences. Vickery Village is located in South Forsyth within the North Fulton submarket, one of Atlanta's most affluent and fastest-growing regions. North Fulton is the headquarters for Fortune 500 companies such as UPS, Newell Rubbermaid and First Data Corp., as well as Fortune 1000 companies Axiall Corp. and Global Payments Inc.

ABOUT TRANSWESTERN'S SOUTHEAST INVESTMENT SERVICES GROUP
Transwestern's Southeast Investment Services Group (Southeast ISG) combines capital markets and investment banking expertise, local market knowledge and proven transaction execution to provide strategic disposition services for multifamily, office, retail, industrial and land assets located in Alabama, Georgia, Florida, Mississippi, North Carolina, South Carolina and Tennessee. Based in Atlanta with offices in Miami, Fort Lauderdale and Orlando, Transwestern's Southeast ISG has established a successful track record for maximizing value and creating lasting relationships with clients that range from local entrepreneurs to the largest corporations in the country.

ABOUT TRANSWESTERN
Transwestern is a privately held real estate firm specializing in agency leasing, property and facilities management, tenant advisory, capital markets, research and sustainability. The fully integrated global enterprise leverages competencies in office, industrial, retail, multifamily and healthcare properties to add value for investors, owners and occupiers of real estate. As a member of the Transwestern family of companies, the firm capitalizes on market insights and operational expertise of independent affiliates specializing in development, real estate investment management and research. Transwestern has 34 U.S. offices and assists clients through more than 180 offices in 38 countries as part of a strategic alliance with Paris-based BNP Paribas Real Estate. For more information, please visit transwestern.com and follow us on Twitter: @Transwestern.

Media Contact:
Jaime Luckey
404.842.6536
[email protected]

SOURCE Transwestern