Smyrna, Ga. — South Coast Commercial has acquired Ivy Walk, a 42,499-square-foot neighborhood retail center located in the Atlanta suburb of Smyrna, for $18.5 million. Built in 2004, the property was 91 percent occupied at the time of sale by tenants including Muss & Turner’s, South City Kitchen, First Watch, Natural Body Spa and Children’s Healthcare of Atlanta. The center is located at the intersection of Atlanta Road and Cumberland Parkway, roughly 16 miles northwest of Atlanta. Brad Buchanan, Jim Hamilton and Andrew Kahn of JLL Capital Markets represented the …
Georgia
Garner Group Sells Publix-Anchored Shopping Center in Central Georgia for $12 Million
Warner Robins, Ga. — Garner Group has sold Publix at Gunn Battle, an 80,675-square-foot shopping center located in the central Georgia community of Warner Robins. Publix anchors the property, which was 93 percent occupied at the time of sale. Brad Buchanan, Jim Hamilton and Andrew Kahn of JLL Capital Markets represented the seller in the disposition of the center to a joint venture between Forge Capital Partners and The Sembler Co. The property was developed in 2010 and is located at 6015 Watson Blvd.
Berkeley Capital Advisors Negotiates Sale of 203,876-Square-Foot Shopping Center in Brunswick, Georgia
Brunswick, Ga. — Berkeley Capital Advisors has negotiated the sale of Lanier Plaza, a 203,876-square-foot shopping center located in Brunswick. Addison Montague, Rad von Werssowetz and Morgan Hall of Berkeley facilitated the transaction between the undisclosed buyer and seller. Tenants at the property include Winn-Dixie and Dollar Tree.
Atlanta — Franklin Street has arranged the $8.4 million sale of Parkwood Shops, a 20,397-square-foot retail strip center located in Atlanta. The property is situated on 2.1 acres at 2014 SE Powers Ferry Road in Atlanta’s Cumberland neighborhood. CVS/pharmacy anchors the center, which was fully leased at the time of sale to tenants including Boston Market, Jersey Mike’s, Planet Smoothie, Piu Bello Pizzeria, Hikaru Ramen and Personal Touch Cleaners. Bryan Belk and John Tennant of Franklin Street represented the seller, Ronus Properties, in the disposition of the property to SITE …
Baton Rouge, La. and McDonough, Ga. — Faris Lee Investments has brokered the sale of two convenience store properties located in Louisiana and Georgia. Jeff Conover, Scott DeYoung and Hunter Steffien of Faris Lee represented the undisclosed seller in both transactions, which totaled $8.2 million. Dispositions include a single-tenant property occupied by Murphy Oil under a 20-year, absolute, triple-net ground lease at the intersection of Airline Highway and Old Hammond Highway in Baton Rouge, Louisiana; and a single-tenant property occupied by QuikTrip under a 15-year, absolute, triple-net lease in McDonough, …
Stan Johnson Brokers $9.3 Million Sale of a Multi-Tenant Retail Portfolio in Metro Atlanta
Jonesboro, Ga. — Stan Johnson Co. has brokered the $9.3 million sale of a multi-tenant retail portfolio located roughly 17 miles south of Atlanta in Jonesboro. The portfolio includes the 69,868-square-foot Shops of Tara and a 4,164-square-foot outparcel occupied by Starbucks Coffee and AT&T. The properties are located at 6620 and 6564 Tara Blvd. Jeff Enck of Stan Johnson represented the seller, a private fund out of Australia, in the disposition of the properties to a Georgia-based investment group.
CTO Realty Growth Acquires Madison Yards Retail Development in Atlanta for $80.2 Million
Atlanta — CTO Realty Growth has purchased Madison Yards, a new retail development in Atlanta’s Inman Park district. The developer, Fuqua Development, sold the 162,500-square-foot project to CTO Realty Growth for $80.2 million. Located at 905 Memorial Drive along the Atlanta Beltline’s Eastside Trail, Madison Yards was 98 percent leased at the time of sale to tenants including anchors Publix and AMC Theatres. Other tenants include AT&T, First Watch and Orangetheory Fitness. Fuqua delivered the property in 2019, as well as an attached apartment community that was not part of …
NAP Gains County Approval for Redevelopment of Avenue East Cobb Shopping Center in Metro Atlanta
Marietta, Ga. — North American Properties (NAP) has gained unanimous approval from the Cobb County Board of Commissioners for its redevelopment plan of the Avenue East Cobb, an open-air shopping center located in the northeast Atlanta suburb of Marietta. Plans call for a portion of the central building near Kale Me Crazy to be demolished to make way for an 8,000-square-foot area called The Plaza that will be surrounded by restaurants with patios. The Plaza will feature a covered, raised stage for performances; an LED screen for broadcasting live events; …
Atlanta — Skyline Seven Real Estate has negotiated the $13.5 million sale of Greenbrier Crossing, a 48,515-square-foot retail center located near Greenbrier Mall in Atlanta. The property is anchored by Kroger, which was not included in the sale. The fully occupied center is home to tenants including CVS/pharmacy, Chase Bank, City Gear, Davita Dialysis, Anthem BlueCross BlueShield and CenterWell Primary Care. The buyer, seller and terms of the transaction were undisclosed, though Skyline reports that the property traded at its full list price.
Matthews Real Estate Negotiates $20.5 Million Sale of Village Plaza in Augusta, Georgia
Augusta, Ga. — Matthews Real Estate Investment Services has negotiated the $20.5 million sale of Village Plaza, a shopping center in Augusta. The names of the seller and buyer were not released. Located at 270 Bobby Jones Expressway, Village Plaza features 208,269 square feet of retail space. Current tenants include Gold’s Gym, GNC, Bealls Outlet and Tractor Supply Co. The property is shadow anchored by Walmart. Johnny Blue Craig of Matthews Real Estate Investment Services represented the seller in the deal.