Stonecrest, Ga. — Stonecrest Resorts has completed the second phase of redevelopment at Priví, a 143,000-square-foot adaptive reuse of the former Sears department store at The Mall at Stonecrest located in Stonecrest, roughly 15 miles outside Atlanta. Phase II comprised $4.2 million of renovations and the addition of tenants including Baldwin’s Literary Social Bookstore, Priví Art Gallery, The Exposure Hub, 101 TKO Radio, Priví Event Center, 3 Degrees Infrared Sauna Studio, Picasso’s Splat Room, The Lion’s Cage MMA & Fitness Gym and Garden Life Juice Bar. SeaQuest anchors Phase I …
Peachtree Corners, Ga. — North American Properties (NAP) has partnered with Nuveen Real Estate to begin the redevelopment of The Forum Peachtree Corners. The partnership, which acquired the shopping center in March 2022, plans to deliver the redevelopment in phases, beginning with retail- and pedestrian-focused upgrades. Upon completion, the project will include a 125-room boutique hotel, 381 apartments, experiential retailers, eateries, structured parking and new public spaces. In addition to these uses, the developers will implement concierge services and valet offerings.
Roswell, Ga. — iBorrow has provided a $15.6 million loan for the acquisition of a retail center located in Roswell, roughly 20 miles north of Atlanta. Totaling 56,921 square feet, the property is leased to 13 tenants. The borrower was not disclosed.
Newnan and Ellenwood, Ga. — CBRE has brokered the sales of two retail strip centers totaling approximately $4.4 million. The properties include Sullivan Towers, a 12,950-square-foot property located in Newnan, and Ellenwood Plaza, a 9,450-square-foot property located in Ellenwood. Craig Taylor of CBRE’s Atlanta office represented the sellers, two undisclosed private entities, in each transaction. Local investor James Thomasson purchased Sullivan Towers and United Properties Ventures acquired Ellenwood Plaza. Sullivan Towers was fully leased at the time of sale to tenants including CVS/pharmacy, Carr Eye Care, Touch of India, Kuman …
Atlanta and Charlotte, N.C. — Nuveen Real Estate has acquired two retail centers totaling 139,732 square feet in separate transactions. Roswell Wieuca in Atlanta was originally constructed in 1954 and comprises 73,370 square feet. The property is grocery-anchored and was 98 percent occupied at the time of sale. The second property, Specialty Shops SouthPark in Charlotte, was purchased in partnership with Hill Partners, which has managed and leased the property since 2014. Specialty Shops features 65,362 square feet and was fully leased at the time of sale.
AlabamaCaliforniaFloridaGeorgiaIllinoisMississippiNet leaseNew YorkNewsNorth CarolinaTexasVirginiaWashington
Matthews Brokers $20.1 Million Sale of Napa Auto Parts Portfolio
Los Angeles — Matthews Real Estate Investment Services has brokered the $20.1 million sale of a portfolio comprising 12 single-tenant retail properties. Located in Alabama, California, Florida, Georgia, Illinois, Mississippi, New York, North Carolina, Texas, Virginia and Washington, the properties are all occupied by Napa Auto Parts on a net-lease basis. Brandon Perez and Bill Pedersen of Matthews arranged the sale on behalf of the undisclosed limited liability company. A publicly traded REIT purchased the portfolio.
Suwanee, Ga. — CBRE has arranged the sale of The Village Shoppes at Windermere, a Publix-anchored shopping center located in the Atlanta suburb of Suwanee. The 73,404-square-foot property was 93.3 percent leased at the time of sale to tenants including a dry cleaner, martial arts studio, nail salon, orthodontics office and a Mexican restaurant. Phillips Edison & Co. purchased the center from Affinius Capital (formerly USAA Real Estate) for an undisclosed price. Chris Decoufle, Kevin Hurley and Matt Karempelis of CBRE’s National Retail Partners – Southeast team represented the seller …
Johns Creek, Ga. — SRS Real Estate Partners’ National Net Lease Group has brokered the $4.3 million sale of Shops at Medlock Corners, a 6,200-square-foot retail strip center located in Johns Creek. The seller, Atlanta-based Willow Capital Partners, delivered the property in March. Situated on less than an acre, the metro Atlanta property was fully leased at the time of sale to Jersey Mike’s, Ideal Dental and ATI Physical Therapy, all of which signed 10-year leases. Michael Berk, Sheree Strome and Scott Campbell of SRS represented the seller in the …
Douglasville, Ga. — Marcus & Millichap has brokered the $19.8 million sale of Douglasville Town Center, a 272,785-square-foot shopping center located in Douglasville, about 24 miles west of Atlanta. Tim Giambrone of Marcus & Millichap’s Atlanta office represented both the seller, a private capital partnership, and the buyer, an out-of-state private investment firm, in the transaction. Douglasville Town Center’s tenant roster includes anchor BuggyBusters, a liquidation superstore, as well as Rogers Mechanical Contractors, Andy’s Wholesale and Cobb Douglas Community Services Board.
Griffin, Ga. — Burlington Stores Inc. has signed a 20,000-square-foot lease at North Griffin Square, a retail center located in Griffin, approximately 40 miles south of Atlanta. Burlington will open a store at the 226,694-square-foot center this summer. Belk, Bealls and Big Lots anchor the property, which is also leased to tenants including PetSmart, T-Mobile, Little Caesars, LongHorn Steakhouse and Starbucks Coffee. Halpern Enterprises Inc., which developed North Griffin Square in 1979, is the landlord and is currently finalizing an exterior improvement program at the shopping center.