Bull Realty arranged the sale of a 3-acre tract of land in Chamblee, GA. The sale closed on August 15th for $5,750,000.
The property will become “The Malone on Peachtree,” a 5-story, LEED certified 466,057 SF mixed-use development with approximately 205 age restricted units and 23,937 SF of retail space. The architect for the project is Coursey & Associates Architects. Renderings were released by The Atlanta Business Chronicle in May.
Bull Realty’s John DeYonker arranged the sale between the seller, Maltese Family Holdings, LLLP, and the buyer, a subsidiary of Courtland Partners.
“This is a great location and site. The development will do well in this booming market,” said DeYonker.
“When you see land selling for $44 per square foot, it clearly illustrates the viability of walkable city centers in close-in suburban markets,” said Michael Bull, CCIM.