Peachtree City, Ga. — The $9.5 billion MEPT Fund, along with its affiliated funds, has purchased Kedron Village II, a 157,185-square-foot shopping center located in Peachtree City, about 30 miles southwest of downtown Atlanta.
MEPT also owns the adjacent Kedron Village I, a 97,000-square-foot, grocery-anchored retail center. Built in 2006, Kedron Village II was 90 percent leased at the time of sale to tenants such as Ross Dress for Less, Bed Bath & Beyond and Petco. The weighted average remaining lease term for all tenants is nearly five years and 80 percent of the tenant base has been at the center for seven or more years. Bentall Kennedy, a Sun Life Investment Management company, advised MEPT in the transaction.