Ram has announced the sale of the final parcel in its redevelopment of commercial property on the northwest corner of Janmar Road and Scenic Highway in the heart of Snellville, Georgia.
Olive Garden ground-leased an outparcel from Ram and opened their full-service restaurant in December of last year. Ram sold the parcel last week for just over $2 million.
Ram acquired 6.5 acres of the development site from Home Depot, who previously operated a Home Depot Landscape Supply facility in this location. Ram subsequently acquired the adjacent former Lincoln-Mercury dealership from Group 1, unifying the property into an 11-acre commercial parcel.
Eight acres were sold to Academy Sports to construct one of their first stores in the Metropolitan Atlanta area. The site has been home to Academy Sports since June of last year. Ram executed all site improvements for Academy, Olive Garden and A & J Jewelers, who purchased the final portion of the development last June for the construction of their own store with additional space for other tenants.
“Our development of the site in Snellville shows the persistence and versatility of our team,” said Ram Chairman Peter Cummings. “We have been in the development business for over 30 years and savor opportunities such as this, where we can create value not only for our investors, but for the community. In Snellville, we took assets that were essentially shuttered, combined them and brought new energy to the neighborhood.”