Furniture stores change hands in Georgia

Florida investor completes tax-deferred exchange

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Marcus & Millichap negotiated the sale of the newly constructed Sofa Express/Thomasville Furniture properties in Buford, Ga. The total value of the two single-tenant, net-leased buildings was $11.4 million. The properties are located on Buford Drive in northwest Atlanta directly across from the 1.7 million-square-foot Mall of Georgia. The properties were recently completed and collectively comprise 28,452 rentable square feet on approximately 2.5 acres. An Atlanta-area developer sold the property via a 1031 exchange to Orlando, Fla.-based CNLRS Acquisitions Inc. Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage. *** What's your opinion? Send your Letter to the Editor to