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PUMPING THE CAPITAL

Atlanta

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PUMPING THE CAPITAL

Atlanta-based NAI Brannen Goddard's Ty Underwood  and  Fain Hicks  are busy brokers lately. The two are riding a crest of capital that's hungry for core, stabilized retail  assets in major markets, Ty tells us. That was capped recently by a big deal the duo brokered for the sale of Short Pump Station, a 92K SF shopping center in Richmond, Va. (below).

 
PUMPING THE CAPITAL

?If it's core, then there's enormous appetite for it,? Ty says. Short Pump sold to an undisclosed syndicate out of New York for $30.8M, or a whopping $337/SF. Ty says he and Fain hope to have similar success in Atlanta. They have just listed the Sam?s Club on Clairmont Road, with the tenant having nine years left on its lease and six five-year options to renew. ?I released it seven days ago, and we just got an offer for it Monday,? he tells us.