Commercial/Residential Mixed-use Development Sold for $5.7M at Mill Creek Station in LaGrange, Ga.
Land Advisors Organization’s Atlanta office facilitated the transaction that includes $3.8 million for approximately 108 acres of commercial land and $2.0 million for just over 233 acres of residential land located off U.S. Highway 29.Atlanta, Ga. (January 21, 2022) – Land Advisors Organization is pleased to announce that its Atlanta office recently closed on a 339.7-acre mixed-use development for $5.7 million at Mill Creek Station in LaGrange, Georgia.
David Moore, CCIM, with Land Advisors Organization’s Atlanta office facilitated the transaction and represented the seller SLF IV – GA Mill Creek, LLC. LaGrange River Mill, LLC & LRM Commercial, LLC is the buyer, and will take on the role of the master developer for the nearly 340-acre project.
The sale price for the recently completed commercial deal was $3.8 million for 108.4 acres. The closing of sale on the commercial parcel completes the mixed-use portion of the development. Sale of the 231.3-acre residential parcel for $1.9M completed in July 2021. The residential parcel is zoned for more than 480 residential units.
“The time-frame for construction/completion is ‘on-going’ as the buyer is actively working with retailers and homebuilders and could stretch over a number of years for a development of this size,” Moore said. “A high-end multi-family development has already been built on a portion of the property.”
The subject property is located 65 miles southwest of Atlanta in LaGrange, within Troup County, Georgia, at the intersection of U.S. Highway 29 (Hogansville Road) and Davis Road. Both are three-lane roads, with shared turn lanes. U.S. Highway 29 is a north-south highway that runs for 1,036 miles from the western suburbs of Baltimore, Maryland, to Pensacola, Florida.
This intersection is one of the busiest in all of Troup County, with a combined average daily traffic count of 25,000+ cars per day. The site is located roughly 2.5 miles east of Downtown LaGrange and one mile west of I-85, which is where 90% of the area’s retail and commercial development is located.
In 2010, Kia Motors opened its massive auto assembly plant in Troup County. Since that date, Kia and its suppliers have created more than 11,000 jobs in the region surrounding LaGrange and Troup County. “The impact of the new Kia facility has grown each year and strengthened the work force in West Georgia,” Moore said. Additionally in 2018, Great Wolf Lodge opened up the company’s 16th location in the United States providing for additional jobs and recreation for the region.
About Land Advisors Organization
Founded in 1987, Land Advisors Organization is the nation’s largest land brokerage firm specializing in providing deep market insights to landowners and purchasers for the most comprehensive and effective evaluation of land in markets across the country. By integrating current local market information with cutting-edge technology and geographically specialized professionals, Land Advisors Organization advises clients in identifying and capitalizing on valuable land opportunities in all economic environments. Land Advisors Organization serves landowners and purchasers from offices in Phoenix, Tucson, Casa Grande and Prescott, Arizona; Irvine, San Francisco, Century City, Pasadena, Roseville and San Diego, California; Orlando, Jacksonville and Tampa Bay, Florida; Atlanta, Georgia; Charlotte, North Carolina; Nashville, Tennessee; Boise, Idaho; Las Vegas, Nevada; Albuquerque, New Mexico; Austin, Houston and Dallas-Fort Worth, Texas; Salt Lake City, Utah and Seattle, Washington. Stay connected with us on Twitter, Facebook and LinkedIn.
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Media Contact: Patty Johnson, Connections Marketing & Communications
PattyJohnson@Connections-marcom.com or 602.402.2965
