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Wood Partners has purchased a prominent, family-owned Peachtree Road parcel in Brookhaven for its next mixed-use project.
Wood closed May 27 on 3920-3930 Peachtree Road, a 4.6-acre site for $15.8M from SDS Real Property Holdings, which has held the property for nearly 50 years, according to Databank.
The site was the former home of Hastings Nursery, which shuttered five years ago, and Mavis Discount Tire, which closed last month, Ackerman & Co. Senior Vice President John Speros said.
Wood plans to break ground on a six-story, mixed-use project that will house 291 apartment units and 17,500 SF of ground-floor retail. Once completed, SDS plans to purchase the retail space to maintain a portion of ownership of the site, Speros said. Speros, along with SSG Realty Partners CEO David Branch, represented SDS in the transaction.
SDS has attempted to sell the property before. The family had it under contract with another potential buyer in 2012, but the sale fell through. Speros put the property back on the market in 2018.
CORRECTION, MAY 29, 2:30 P.M. ET: An earlier version of this story used a picture of a different tire store along Peachtree Road instead of the former Mavis Discount Tire facility in Brookhaven. The replacement picture above is the location of the future Wood Partrners mixed-use project.
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