News release

Suburban Atlanta retail center anchored by Best Buy sells

JLL Capital Markets completed the $8.7M sale of the fully leased Westbrook Plaza in Gainesville, Georgia

December 16, 2021

Kimberly Steele

Capital Markets, Agency Leasing and Valuation Advisory PR
+1 713 852 3420

ATLANTA, Dec. 16, 2021 – JLL Capital Markets announced today that it has closed the $8.7 million sale of Westbrook Plaza, a fully leased, 49,364-square-foot retail center anchored by Best Buy in the Atlanta-area community of Gainesville, Georgia.

JLL represented the seller, Bridge33 Capital. Collett Capital acquired the asset.

Constructed in 2006, Westbrook Plaza is home to a diverse and established national tenant lineup that includes Best Buy, Burn Boot Camp, Mattress Firm, WNB Factory, Pazzi’s Pizza, Paris Nails and Pet Pleasers Bakery. The property is located at 668 Dawsonville Hwy., in Gainesville, a northeastern Atlanta suburb. Westbrook Plaza is located less than 1 mile from Lake Lanier, an area demand driver that attracts over millions of visitors and provides an annual economic impact of over $5.5 billion.

The JLL Retail Capital Markets Investment Sales and Advisory team that represented the seller was led by Senior Managing Director Jim Hamilton, Senior Director Brad Buchanan and Associate Andrew Michols.

“Our team continues to see robust demand for high-quality retail assets throughout the Southeast,” Buchanan said. “Westbrook Plaza received significant interest from the investment community due to the property’s well-tenured rent roll, extended trade area and strategic location directly adjacent to Lake Lanier, one of the Southeast’s largest recreational lakes with over 11 million annual visitors.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit our newsroom.


About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 95,000 as of September 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

About Bridge33 Capital LLC

Based in Seattle, Bridge33 Capital LLC is a vertically integrated real estate company focused on value-add investments. Since 2013, Bridge33 has acquired approximately 9 million square feet of retail and office properties in 23 states and has approximately $1.1 billion in assets under management.

About Collett Capital

Based in Charlotte, North Carolina, Collett Capital is a real estate private equity firm with over $325 million in assets under management. The firm is focused on acquiring well-located, income producing real estate assets with durable cash flows and upside potential. Through its real estate funds, the firm acts as a sponsor, operating partner and co-investor alongside its institutional and private capital partners.