CBRE Brokers Sale of 18,900 Sq. Ft. Thornton Promenade Shopping Center in Lithia Springs, Georgia

CBRE has announced the sale of Thornton Promenade, an 18,900-sq.-ft. shopping center in Lithia Springs, Georgia, located approximately 20 miles west of downtown Atlanta. A private local investor acquired the property for $4 million in an off-market deal.

CBRE’s Craig Taylor represented the seller, RAW Promenade, LLC, in the transaction. The buyer was represented by Riverwood Properties, who will be leasing and managing the shopping center.

“The buyer is a known local investor who owns other well-located shopping centers in Metro Atlanta. Thornton Promenade matched their investment strategy perfectly and we were able to achieve a satisfactory result for both parties,” said Taylor, Senior Vice President with CBRE in Atlanta.

Located at 639 Thornton Road in Lithia Springs, Thornton Promenade is an 18,900-sq.-ft. shopping center situated a mile north of Interstate 20 and directly across from a Kroger-anchored retail center. The property was 92% leased at the time of its sale and is home to 14 retail and restaurant tenants, including Avis Car Rental, Domino’s Pizza and Metro PCS. Tenant footprints range from 2,100 sq. ft. to 1,190 sq. ft.