In June 2019, CLP acquired Premier Apartments, a 280-unit property located in Cobb County, Austell, Georgia. Apartment features include a fully equipped kitchen, separate dining area, patio/balcony, walk in closet, laundry/utility room and general community features such as a clubhouse/leasing office, controlled access gate, swimming pool, tennis courts, picnic & bbq area, playground, community lake and mail kiosk.
The property is situated close to major highways leading to Downtown Atlanta and the Platinum Triangle. Walmart, Home Depot, and other large retailers are within 2 miles from the property. The county is one of the most robust real estate markets in Georgia, benefiting from high population density and strong household income. The benefits of low property taxes, low occupational business taxes, and convenient services make the county a major center for commerce. Additionally, the county boasts one of the strongest school districts in the state.
Cobb County’s economic focal point is the dynamic “Platinum Triangle” area (a.k.a. Cumberland), which surrounds the interchange of I-75 and I-285. This area generates approximately 150,000 jobs (48% of total Cobb employment), and boasts 29 million SF of office, a convention center, 4,000+ hotel rooms, and the enclosed retail centers Cumberland Mall and Galleria Specialty Mall. The development of this massive project has made this area, 10 miles northeast of the subject, even more densely populated.