As the old saying goes, “location, location, location” is all-important in commercial real estate.
Ben Campbell, who has been named Ackerman & Co.’s Broker of the Month for August (based on total transaction value), focuses on land sales in sought-after intown Atlanta districts such as Decatur, Avondale Estate and Old Fourth Ward.
One of the properties he was selected to market back in 2015 definitely had a strong location going for it. The property – containing a 37,750 square foot warehouse building and an additional 3.1 acres of land for sale – was located at 2969 East Ponce de Leon Avenue directly across from the busy DeKalb Farmers Market. That section of road had a high traffic count of 26,000 vehicles per day, a number that was likely to increase significantly with the planned expansion of the market that would triple its size.
Clearly, this was a prime opportunity for re-development.
The property became more challenging to market, however, with proposed modifications to the lane configuration on Ponce that would benefit DeKalb Farmers Market while eliminating direct access to the 2969 Ponce de Leon property.
However, Ben displayed useful traits of successful brokers – tenacity and determination – and closed the sale of the property for $2.2 million two-and-a-half years after he was selected by owner Custom Slip Cover & Upholstery. During that time, he came very close to reaching deals with two buyers who ultimately backed out due to concerns over the property’s access.
In August, his persistence paid off when he closed the property’s sale with a buyer (Oakhurst Realty Partners) who saw the potential of the strategic location inside the I-285 perimeter and plans to revitalize the property for future lease or sale.
The sale of 2969 Ponce de Leon earned Ben the Broker of the Month recognition. Ben said it was a great experience getting to know the two owners of the business and partnering with them to provide a solution that will contribute to their long-term success.
“It was a pleasure to work with the owners of that property, Chean Chea and Miguel Moreno. They’re dedicated to their field of work and the community, and this transaction will enable them to relocate to new space that’s ideal for their business,” Ben said.
In addition to the Ponce de Leon sale, Ben closed another large transaction earlier this year: the sale of a 3.2-acre parcel in the city of Avondale Estates to South City Partners that will be the site of a major mixed-use project.
Ben is currently working on numerous land listings in his core intown markets and others in metro Atlanta. Contact him at 770-913-3931 if you’re interested in any of these opportunities or would like him to market one of your properties for sale.