Savannah, Ga. — SRS Real Estate Partners’ Investment Property Group (IPG) has arranged the sale of a 43,783-square-foot retail center leased by Publix Super Market in Savannah. Publix has occupied the space since 1993. Publix Super Markets Inc. acquired the property, which is situated on the corner of Johnny Mercer Boulevard and Wilmington Island Road nine miles east of downtown Savannah and 11 miles west of Tybee Island. Kyle Stonis, Pierce Mayson and Giles Stevens of the IPG in the SRS Atlanta office represented the seller in the transaction. The …
Georgia
Naples, Fla. and Kennesaw, Ga. — The Sembler Co. and Forge Capital Partners have purchased a pair of Publix-anchored shopping centers in Naples, Florida, and Kennesaw, Georgia. The companies purchased the centers for an undisclosed price via their Forge Real Estate Partners IV (FREP) investment fund. Properties include the 59,893-square-foot Naples Lake Village Center and the 68,744-square-foot Kennesaw Walk. Sembler will serve as the property manager and leasing agent for both properties. Including these properties, Sembler and Forge have acquired 14 shopping centers in the Southeast and Texas using their …
Tri-Land Breaks Ground on Redevelopment of 253,000-Square-Foot Shopping Center in Metro Atlanta
Conyers, Ga. — Tri-Land Properties Inc. has begun construction on the overhaul of Salem Gate Market, a 253,000-square-foot, grocery-anchored shopping center located 25 miles southeast of Atlanta in Conyers. The multimillion-dollar redevelopment will include a 55,000-square-foot Hobby Lobby, 20,000-square-foot Northern Tool + Supply, a 103-room hotel and an Allure Nail & Spa. Tri-Land is rebuilding Salem Gate in a public-private partnership with the city of Conyers. Salem Gate is the first project underway as part of the Conyers Gateway Village District, the product of a new zoning ordinance adopted by …
Grandbridge Provides Two Acquisition Loans Totaling $20 Million for Metro Atlanta Retail Centers
Duluth and Fayetteville, Ga. — Grandbridge Real Estate Capital has provided a pair of acquisition loans totaling approximately $20 million for two retail centers in metro Atlanta. In the first deal, the company provided a $9.8 million loan for Reynolds Crossing, a 148,809-square-foot center located in the northeastern Atlanta suburb of Duluth. That loan carried a seven-year term, fixed interest rate and a 25-year amortization schedule. In the second transaction, Grandbridge closed a $10.2 million loan for Togwotee Village, a 109,680-square-foot center in Fayetteville, located 22 miles south of Atlanta. …
Cole Credit Property Trust Sells 62,719-Square-Foot LA Fitness-Anchored Retail Center in Metro Atlanta
Douglasville, Ga. — Cole Credit Property Trust IV Inc. has sold Village at Chapel Hill, a 62,719-square-foot, LA Fitness-anchored retail center in Douglasville, Georgia, 20 miles west of downtown Atlanta. The center was built in 2009 and was 97 percent leased at the time of the sale. The property is shadow-anchored by ALDI and includes other tenants such as Yogli Mogli, One Main Financial, Chapel Hill Dentistry and Blue Agave Mexican Restaurant. Jim Hamilton, Brad Buchanan, Mike Allison and Andrew Kahn of HFF represented the seller in the transaction. LBX …
Cushman & Wakefield Arranges Sale of 199,594-Square-Foot Retail Center in Metro Atlanta
Suwanee, Ga. — Cushman & Wakefield has arranged the sale of Brookwood Marketplace, a 199,594-square-foot retail center in Suwanee, Georgia, shadow-anchored by Super Target. The property is located at 2615-2635 Peachtree Parkway, 34 miles north of downtown Atlanta in Gwinnett County. Brookwood Marketplace was 98 percent leased at the time of the sale to tenants including The Home Depot, Bed Bath & Beyond and OfficeMax. Fain Hicks and Mark Gilbert of Cushman & Wakefield represented the seller, Weingarten Realty, in the transaction. A private individual acquired the center for an …
Roswell, Ga. and Leland, N.C. — Branch Properties has acquired two grocery-anchored shopping centers in the Southeast. The first, Roswell Market Place, is a 95,522-square-foot shopping center anchored by Sprouts Farmers Market. Branch Properties bought the asset for $32 million. The center, which is located at 10800 Alpharetta Highway, 24 miles north of downtown Atlanta, was built in 1986 and renovated two years ago. Roswell Market Place was 88 percent leased at the time of the sale. The second property is Waterford Village, a 108,249-square-foot shopping center anchored by Harris …
Marietta, Ga. — Marietta Square Market, an 18,500-square-foot food hall, has opened at 68 N. Marietta Parkway NW in the Historic Marietta Square District. Concordia Properties LLC and Creative Culinary Ventures LLC developed the asset, which is located adjacent to historic railroad tracks, to resemble a turn-of-the-century train station. Marietta Square Market offers a central bar, indoor and outdoor seating and 20 vendors. Kelly Wilson of Ackerman Retail is handling leasing efforts for Marietta Square Market.
Cumming, Ga. — Retail Planning Corp. (RPC) will break ground on The Publix at Matt shopping center in Cumming, Georgia. Publix will anchor the 82,000-square-foot center, with additional tenants set to include Great Clips, AT&T, J. Christopher’s and Nail Talk & Tan. The property will be situated at the corner of Bannister Road and Matt Highway, 48 miles north of downtown Atlanta. RPC expects to deliver the shopping center in summer 2020.