Avison Young completes $14.4 million Georgia sale

Avison Young announced completion of the sale of Shoppes at Vickery Village, a 77,794sq.-ft., 11-building center in Cumming, Georgia. The real estate services firm reports that the purchase price was 20% more than the seller paid for the property only 18 months ago.



“Due to the area’s steady growth, both the retail and office markets in the Cumming-North Fulton submarket have experienced an uptick in occupancy and absorption rates that is expected to continue escalating due to limited new supply,” said Avison Young principal David Duckworth.



Duckworth’s colleague A.J. Belt III noted that, during the year and a half of its client’s ownership, Avison Young was able to streamline the accounting process and lease up the property to 98% occupancy.



Vickery Village is located within the most affluent submarket in Forsyth County. Average household income within a one-mile radius is $158,361, more than twice the Georgia average.

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