Coro Realty Announces the Sale of ABRA Auto Body & Glass
Coro Realty Advisors, LLC announces the sale of ABRA Auto Body & Glass, located at 3730 Lawrenceville-Suwanee Road, Suwanee, GA 30024 to Spirit Master Funding III, LLC. Coro acquired the property, then owned by Taylor Collision and Suwanee Tool Rental, in July 2011. Coro Realty simultaneously entered into a development agreement and long-term lease with ABRA. Coro Realty converted the former properties into a 5,000 square foot free-standing office for ABRA and an adjacent 6,480 square foot auto repair facility.
The property was originally redeveloped as a long term investment. Investor appetite for the property and cap rate compression, however, caused Coro Realty to re-evaluate its strategy. Robert Fransen, partner in Coro Realty, stated “We enjoyed working with ABRA, having found it to be a first-class company and tenant. We are very pleased with the result of this transaction and look forward to doing more business with ABRA.”
Coro Realty Advisors, LLC was founded in 1997 and is synonymous in Atlanta and throughout the Southeast with intelligent real estate development and investment. With a commitment smart growth, the urban landscape, and innovation, incorporating distinctive architectural designs and the latest in building trends and technology, Coro continues to demonstrate its leadership in the market with the successful execution of quality developments. The firm provides Asset Management, Property Management and Real Estate Advisory Services for a myriad of residential and commercial properties throughout the Southeastern United States.
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