Northmarq Announces $4.5 Million Sale of the Villages at Hamilton Mill at a 5.56 Percent Cap Rate

Northmarq investment sales broker Billy Benedict completed the sale of the Villages at Hamilton Mill, a 10,631-square-foot shopping center located at 2085 Hamilton Creek Parkway in Dacula, Georgia. Anchored by Starbucks, the center was fully leased to eight tenants at the time of contract signing. Northmarq’s Billy Benedict represented the seller, a private investor based in Buford, Georgia. A Lawrenceville, Georgia-based 1031 exchange buyer acquired the asset for approximately $4.5 million reflecting a 5.56 percent cap rate. 

“With a predominantly stone exterior, the Villages at Hamilton Mill is a unique, high-quality center, the likes of which would not be built today,” said Benedict. “The Starbucks-anchored center generated significant interest as it checks most all the boxes for convenience multi-tenant retail investors.” 

The center is situated at the pin-corner of the main intersection for the retail hub, which includes Home Depot, Regal Cinemas and Kohl’s. Additional neighboring tenants include Publix, Raising Cane’s, Petco, Arby’s and more. The property benefits from a prominent location, positioned within half a mile of Interstate 85 and the Hamilton Mill Parkway interchange. The Villages at Hamilton Mill caters to an affluent residential population with an average household income of $133,000 within a one-mile radius.  

“Additionally, there were several short-term tenants that provided future upside,” added Benedict. “The buyer was able to envision this upside via our soliciting of strong national and regional tenant interest. Despite one of these short-term tenants vacating during due diligence, the buyer was unphased on account of their belief in the property and its location.”