Atlanta, GA, February 28, 2020 --(PR.com
)-- Greystone Brown Real Estate Advisors announced it has closed the sale of 2.4 acres of land in Union City, GA which will be transformed into an Aldi Grocery Store. Jim Jarrell of Greystone Brown represented the seller, Union City Storage, LLC.
The land sale was part of a larger adaptive reuse of an old WalMart in Union City that was constructed in 1985. The approximately 90,000-square-foot building and 9.25 acres of land had previously been foreclosed and was in very poor condition until being acquired by the developer in March 2018.
The property, which is located at 4700 Jonesboro Road, has since been redeveloped into a 20,000-square-foot Planet Fitness and the remaining 70,000-square-feet was built out as climate controlled, self-storage facility operating as UC Storage.
“Greystone Brown Real Estate Advisors was proud to work with the developers to revive this shopping center and restore it to economic vitality, while also offering more food options to the residents of Union City,” said Jarrell.
Aldi expects to break ground in the next few weeks and should be open by Fall 2020.
The expansion is part of Aldi’s more than $5 billion investment to remodel 1,300 existing stores and open hundreds of new ones across the U.S.
About Greystone Brown Real Estate Advisors
Greystone Brown Real Estate Advisors is a commercial investment brokerage company specializing in the sale of multifamily and retail properties throughout the Southeast. The firm is one of the largest and oldest privately held apartment brokerage firms in the region. Greystone Brown real estate professionals are committed to understanding the objectives of maximizing yields and profits while being able to meet critical time frames. For more information, visit www.brownra.com.