Cushman & Wakefield has arranged the $52.1 million sale of The Marquis on Berkeley, a 323-unit apartment community located in Duluth, Georgia. Mike Kemether, Travis Presnell and Josh Goldfarb of Cushman & Wakefield represented the seller in the transaction. A local operator acquired the property for $161,310 per unit.
“One of the biggest changes that has taken place in Atlanta over my career is that Gwinnett County has transformed from a commodity multifamily market to a barriers market with a business-oriented government serving over 1 million people,” Kemether said. “For these reasons, most Gwinnett properties have performed really well. The Marquis on Berkeley is a fantastic product, and it will be fun to see what the buyer can do with such a great canvas.”
Built in 2002, The Marquis on Berkeley is located within the Northeast Atlanta path of progress, just minutes from millions of square feet of Class A office space, thousands of jobs, national retail, major entertainment centers and back-door access to North Fulton. Amenities include a playground, expansive sundeck, fitness center, garages, lighted tennis courts and a resort-style pool.