Georgia

Chick-fil-A_Suwanee

Suwanee, Ga. — Marcus & Millichap has brokered the $3.5 million sale of a single-tenant, net-leased restaurant in metro Atlanta ground leased to Chick-fil-A. Built in 2007, the property is located on a 1.2-acre lot at 1035 Peachtree Industrial Blvd. in Suwanee. A locally based, privately held buyer purchased the restaurant through a 1031 exchange in an all-cash transaction. Don McMinn of Marcus & Millichap’s Taylor McMinn Retail Group brokered the deal. “This transaction demonstrates the strong demand for trophy net-lease assets and the peak pricing they are commanding despite …

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Garden-Grove_Savannah_Food-Lion

Garden City, Ga. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $8.3 million sale of Garden Grove, a Food Lion-anchored shopping center located adjacent to the Port of Savannah in Garden City.  The grocer, which has anchored the shopping center since 1990, recently extended its lease through 2031. Fletcher Bright Co. sold the 78,792-square-foot property to a private, North Carolina-based family office doing business as Berkshire-Hudson Capital XI.  The seller recently replaced the shopping center’s roof and executed nine lease renewals in 2021, including …

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La-Centerra

Memphis, Tenn. — Poag Shopping Centers has signed 14 new tenants to properties across its retail portfolio. New tenants include Mayweather Boxing + Fitness, 9292 Korean BBQ and OVME at The Avenue Peachtree City in Peachtree City, Georgia; Nothing Bundt Cakes at The Avenue Viera in Melbourne, Florida; Sola Salon Studios at The Avenue West Cobb in Marietta, Georgia; LensCrafters at Deer Park Town Center in Deer Park, Illinois; The Crack Shack, Nando’s, SkinSpirit and The Shade Store at LaCenterra at Cinco Ranch in Katy, Texas; the Museum of Dream Space …

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Conyers-Crossroads

Conyers, Ga. — JLL has brokered the $82 million sale of Conyers Crossroads, a 465,993-square-foot shopping center in the east Atlanta suburb of Conyers. Serota Properties acquired the center from a joint venture between Hendon Properties and Harbert Management Corp. Built in phases between 2000 and 2005, Conyers Crossroads was fully leased at the time of sale to tenants such as Kohl’s, Belk, AMC Theatres, T.J. Maxx, Best Buy, HomeGoods, Michaels, Old Navy, Five Below and Shoe Carnival. Jim Hamilton, Brad Buchanan and Taylor Callaway of JLL represented the seller …

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Kroger_Banks-Crossing_Fayetteville

Fayetteville, Ga. — Continental Realty Corp. (CRC) has purchased Banks Crossing, a 255,101-square-foot shopping center in Fayetteville, a southern suburb of Atlanta. CRC acquired the center, which is anchored by Kroger, for $24.4 million through its private equity fund. The seller was not disclosed. Located at 100-240 Banks Crossing N., Banks Crossing is the third shopping center in CRC’s Georgia portfolio and was 91 percent leased at the time of sale to tenants such as JC Penney, Sally Beauty, Guitar Center and Planet Fitness.

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Cumming-Town-Center

Cumming, Ga. — Franklin Street has arranged a 20,388-square-foot lease with Burlington at Cumming Town Center, a 311,396-square-foot shopping center in Cumming, about 35 miles north of Atlanta. Sam Kreuger and Kaitlyn Theriot of Franklin Street represented the landlord, Site Centers, in the transaction. The publicly traded REIT focuses on investing in well-positioned shopping centers such as Cumming Town Center, which is now fully leased. The space that Burlington is backfilling was formerly occupied by Staples. Other tenants at the property include T.J. Maxx, Dick’s Sporting Goods, Ulta Beauty, Best Buy, …

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McAlpin Square

Savannah, Ga. — First National Realty Partners LLC has acquired McAlpin Square, a 170,000-square-foot shopping center in Savannah. David Rivers of Palomar Group represented the undisclosed seller in the transaction. Opened in 1980, McAlpin Square is anchored by a 43,600-square-foot Kroger, one of the original tenants at the center. Kroger operates a branded onsite fuel center as well. Additional tenants include Big Lots, Goodwill, the US Postal Service, Family Dollar, Rainbow, Rent-A-Center, Subway, Domino’s Pizza and GameStop.

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The Forum

Peachtree Corners, Ga. — North American Properties and Nuveen Real Estate have acquired The Forum on Peachtree Parkway, a 500,000-square-foot shopping center in Peachtree Corners, about 22 miles from downtown Atlanta. Originally opened in 2002, The Forum on Peachtree Parkway is an open-air lifestyle center that is home to a mix of retail, restaurants and office space, including lululemon, Pottery Barn, Trader Joe’s and Ulta Beauty. Property amenities include walking trails, property-wide Wi-Fi, outdoor seating areas and a pedestrian bridge connecting to Peachtree Corners Town Center. North American Properties has …

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Bishop, Colbert, Cornelia and Loganville, Ga. — Stan Johnson Co. has arranged the sale of four Dollar General locations in Bishop, Colbert, Cornelia and Loganville. Doug Clyburn and Julie Clyburn of Stan Johnson Co. represented the 1031 exchange buyer in all transactions. The four sellers were private investors based in Alabama, California and Georgia. Together, the four properties were sold for $8.5 million. Combined, the properties total nearly 38,000 square feet and are occupied under long-term net leases. The Colbert location was a Dollar General Plus, a concept larger than …

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Marietta, Ga. — Eden Rock Real Estate Partners and Connolly have broken ground on a 90,000-square-foot building to be occupied by Kroger at MarketPlace Terrell Mill, a $120 million mixed-use project at the intersection of Terrell Mill and Powers Ferry roads in Marietta. Planned features for the building, which is scheduled for completion in April 2023, include a drive-thru pharmacy, dedicated area for online order pickups and an 18-pump Kroger Fuel Center. The new store will replace an existing Kroger situated on Delk and Powers Ferry roads less than a …

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