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New York Life Taps Trademark Property to Manage Redevelopment of North Point Mall in Metro Atlanta

by Alex Tostado

Alpharetta, Ga. — Trademark Property Co. will oversee the redevelopment of North Point Mall in Alpharetta. According to several media outlets, the previous owner, Brookfield Properties, relinquished ownership back to New York Life Insurance Co. earlier this month. Trademark will also manage and lead the leasing effort for the property. North Point Mall spans 1.3 million square feet and is located near the intersection of Ga. Highway 400 and Encore Parkway, 25 miles north of downtown Atlanta. The enclosed mall features 129 stores and restaurants, including Dillard’s, JC Penney, Von …

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FloridaGeorgiaGrocery-anchoredInvestment salesNewsNorth CarolinaRetailers

Slate Grocery REIT to Acquire Five Grocery-Anchored Properties in Three States for $54.3 Million

by Alex Tostado

Toronto — Slate Grocery REIT has entered into an agreement to acquire five grocery-anchored shopping centers in North Carolina, Florida and Georgia for $54.3 million. The five assets comprise 396,471 square feet and were 95 percent leased at the time of sale. The three North Carolina properties are Bells Fork, a 71,666-square-foot center in Greenville anchored by Harris Teeter; Tanglewood Commons, a 78,520-square-foot property in Winston-Salem anchored by Harris Teeter; and Westin Center, a 66,890-square-foot, Food Lion-anchored asset in Fayetteville. The Florida property is Mission Hills, an 85,078-square-foot property in …

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GeorgiaInvestment salesNewsRetailers

SRS Brokers $10.2 Million Sale of Shopping Center Near Atlanta

by Alex Tostado

Newnan, Ga. — SRS Investment Properties Group has brokered the $10.2 million sale of Shenandoah Plaza, a 146,121-square-foot retail center in Newnan. The center was 94 percent leased at the time of sale to tenants including Big Lots, Dollar General, Rent-A-Center, SalonCentric, Covington Credit and Goodwill. The property spans 19.8 acres at 228 Bullsboro Drive, 36 miles southwest of downtown Atlanta. Kyle Stonis and Pierce Mayson of SRS represented the seller, Georgia Capital Group LLC, in the transaction. An affiliate of Hackney Real Estate Partners acquired the asset.

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GeorgiaInvestment salesMallsNews

Gwinnett County Acquires Gwinnett Place Mall for $23 Million, Not Including Three Anchors

by Alex Tostado

Duluth, Ga. — The Gwinnett County Board of Commissioners voted to acquire 39 acres at Gwinnett Place Mall in Duluth, including most of the mall’s inline tenants, food court and the shuttered Belk-Parisian store. The Urban Redevelopment Agency of Gwinnett County (URA) will buy the land for $23 million from Moonbeam Capital Investments LLC, a Las Vegas-based investor that bought the mall in 2013 from Simon. Moonbeam Capital put the mall up for sale last fall. The sale does not include the locations of Macy’s, Mega Mart and Beauty Master, …

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GeorgiaInvestment salesNewsRetailers

Marcus & Millichap Negotiates $3.7 Million Sale of Strip Retail Center in Central Georgia

by Alex Tostado

Warner Robins, Ga. — Marcus & Millichap has negotiated the $3.7 million sale of a 13,076-square-foot retail strip center within Merganser Commons in Warner Robins. Zach Taylor of Marcus and Millichap’s Taylor McMinn Retail Group implemented a parcelization strategy to sell Merganser Commons for a total of $14.7 million on behalf of the seller, EA Columbia Properties. A 45,600-square-foot Publix anchors Merganser Commons. The strip center was the last piece of Merganser Commons to be sold. “By taking a parcelization approach we were able to maximize the seller proceeds,” says …

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GeorgiaLeasingNewsRetailers

DD’s Discounts to Occupy 17,656 Square Feet Within Shopping Center in Metro Atlanta

by Alex Tostado

Doraville, Ga. — DD’s Discounts has signed a lease to occupy 17,656 square feet of space within Pinetree Plaza in Doraville. A timeline for the store opening was not disclosed. Halpern Enterprises Inc. has owned, leased and managed Pinetree Plaza for more than 60 years. The 206,496-square-foot shopping center is located at 5289 Buford Highway, 16 miles northeast of downtown Atlanta. Other tenants at the center include Supermercado Chicago, LanZhou Ramen, Bo Bo Garden Asian Cuisine, Dim Sum Heaven, Mango Mango and I-CE-NY. Pinetree Plaza is also home to Mundo Hispánico, …

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Content PartnersFaris Lee InvestmentsGeorgiaInvestment salesNewsRestaurants

Faris Lee Arranges $7 Million Sale of Shopping Center Near Atlanta

by Alex Tostado

Fayetteville, Ga. — Faris Lee has arranged the $7 million sale of Satterfield Marketplace, a 12,277-square-foot strip center in Fayetteville. Tenants at the time of sale included a Chipotle Drive-Thru, My EyeLab and Aspen Dental. The property is situated at 1135 Ga. Highway 85 N., 20 miles south of downtown Atlanta. Hunter Steffien, Jeff Conover and Scott DeYoung of Faris Lee represented the undisclosed seller in the transaction. The team also procured the buyer, an undisclosed firm based in Mexico City.

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Ancillary RetailGeorgiaNewsRetailers

Artisan Pop-Up Market to Open Within Buckhead Village in Atlanta

by Alex Tostado

Atlanta — Village Supply, a pop-up market focusing on women- and minority-owned businesses, will open within Buckhead Village in Atlanta. Vendors will be able to showcase their products at the store, which is situated at 272 Buckhead Ave., between Warby Parker and Bella Cucina. The store will be open from 10 a.m. to 7 p.m. Thursday to Saturday, and from noon to 5 p.m. Sundays. The vendor lineup will rotate regularly. The initial lineup includes Cheese Me, which is open through November; Made Leather Co. and Botanical Safari, which will …

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Company newsDevelopmentGeorgiaNew YorkNewsRestaurants

Goldman Sachs to Acquire ‘Significant Stake’ in Zaxby’s, Partnership Will Expand the Brand

by Alex Tostado

Athens, Ga. and New York City — Goldman Sachs Merchant Banking Division has agreed to purchase a “significant stake” in Athens-based Zaxby’s, with plans to grow the quick-service restaurant chain’s footprint into new markets. Terms of the financing were not disclosed, but the deal is expected to close by the end of 2020. Zaxby’s, known for its chicken fingers, wings and signature sauces, has more than 900 locations in 17 states, primarily in the Southeast. Zaxby’s is a privately held company that childhood friends Zach McLeroy and Tony Townley founded …

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DevelopmentEntertainmentGeorgiaNews

Topgolf to Open New Venue in Metro Atlanta This Spring

by Alex Tostado

Buford, Ga. — Topgolf Entertainment Group will open a new 72-bay Topgolf venue in Buford in spring 2021. Construction is currently underway at the two-level property, which will feature climate-controlled bays. The asset will be situated within The Exchange at Gwinnett, 35 miles northeast of downtown Atlanta. Topgolf Entertainment expects to hire 250 employees at the new site. This will be the fourth Topgolf in Georgia, joining locations in Alpharetta, Midtown Atlanta and Augusta. Fuqua Development is building The Exchange at Gwinnett, which is located adjacent to the Mall of …

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