LaGrange, Ga. — Zach Taylor of Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $16 million sale of a newly built shopping center located in LaGrange. Publix anchors the property, with a 10-year lease on the store. Taylor represented the seller, an Atlanta-based developer, in the transaction and procured the 1031 exchange buyer.
Norcross, Ga. — Ackerman Retail, a division of Ackerman & Co., has facilitated the sale of a 4,200-square-foot absolute triple-net Chick-fil-A ground lease located in Norcross, roughly 20 miles outside Atlanta. Constructed in 1998, the property was renovated in 2018. Sean Patrick of Ackerman Retail represented the seller, an entity doing business as WB Holdings-Jimmy Carter Boulevard, in the transaction. A local private buyer acquired the ground lease.
Marietta, Ga. — Six new tenants have signed leases at Avenue West Cobb, a shopping center located in Marietta, roughly 20 miles outside Atlanta. StretchLab and Walk-On’s Sports Bistreaux now occupy 1,156 and 6,890 square feet, respectively. The Peach Cobbler Factory and Vera Whole Health are scheduled to open early this year, in 1,400- and 5,500-square-foot spaces, respectively. Additionally, Warby Parker will open a 2,300-square-foot store at the property this spring. J.Crew Factory is also scheduled to open this spring and will occupy 5,390 square feet. JLL manages the property.
Cumming, Ga. — JLL Capital Markets has brokered the $30 million sale of Matt Town Center, an 81,077-square-foot retail center located in Cumming, roughly 40 miles northeast of Atlanta. Publix anchors the property, which was built in 2020. Other tenants at Matt Town Center, which was 95 percent occupied at the time of sale, include Domino’s, Great Clips, North Shore Dry Cleaners, Grand Nails, Sage Dental, Reveille Café, Dunkin’ Donuts, The UPS Store, EasyVet and Zaxby’s. The sale also included roughly 3.9 acres of undeveloped land, zoned for retail and office …
Duluth, Ga. — JLL Capital Markets has brokered the $18.5 million sale of Reynold’s Crossing, a 45,809-square-foot retail center located in Duluth, roughly 30 miles outside Atlanta. Built in 2004 and 2005, the property was fully leased at the time of sale. Tenants at the center include Little Caesar’s, The UPS Store, MetroPCS, Chase and Cricket Wireless. Brad Buchanan and Jim Hamilton of JLL represented the seller, Leaders Real Estate Group, in the transaction. Justin Miller of Marcus & Millichap procured the buyer. Jamie Safier of Marcus & Millichap secured financing …
West Palm Beach, Fla. and LaGrange, Ga. — BWE has secured two loans totaling $16 million for the financing of a pair of shopping centers located in Florida and Georgia. The deals include a $6 million loan for the refinancing of Palm Beach Commons, a 70,000-square-foot, Family Dollar-anchored retail center in West Palm Beach; and a $10 million acquisition loan for Publix at Merganser Commons, a newly built, Publix-anchored shopping center spanning 46,791 square feet in LaGrange. Logan Petersmeyer of BWE originated both loans, which are underwritten with full-term, interest-only payments.
Savannah and Tybee Island, Ga. — PRIMO Partners has acquired two Ben & Jerry’s stores in Georgia, making the organization the only operator of the brand in the state. The shops, which are located in Savannah and Tybee Island, will hold grand re-openings in 2024. PRIMO’s multi-brand portfolio now comprises 20 stores across metro Washington, D.C., Florida, Georgia, Missouri, North Carolina, South Carolina, Tennessee and Texas.
Alpharetta, Ga. — North American Properties (NAP) has announced plans for the addition of new entertainment elements at Avalon, a 2.4 million-square-foot mixed-use development located in the Atlanta suburb of Alpharetta. Construction is scheduled to begin in January 2024 and will include the addition of a raised, covered performance stage and an LED screen. The features will comprise 576 and 180 square feet, respectively. Avalon features 500,000 square feet of retail space, in addition to a hotel and office and residential space. NAP developed the project in 2012 and manages the …
Brookhaven, Ga. — Connolly has signed new tenants to Parkside on Dresden, a $70 million mixed-use development underway in the Atlanta suburb of Brookhaven. The four-acre development is scheduled to open in fall 2024 and will comprise residential units, as well as 32,000 square feet of retail and restaurant space. Tenants will include Confab Kitchen and Bar, Honeysuckle Gelato, Café Vendome, Clean Juice, El Valle, MIRAE and F45 Training. Mindy Elms and Ed O’Connor of Lavista Associates Inc. manage retail leasing at the property on behalf of Connolly.
Ellijay, Ga. — Halpern Enterprises has signed two new leases totaling 26,450 square feet at Old Orchard Square, a 131,200-square-foot shopping center located in Ellijay. Halpern has owned the property, which is anchored by a 68,000-square-foot Ingles, since 1994. Marshalls will replace Black Bear Antiques in an 18,000-square-foot space, and Five Below will occupy 8,450 square feet at the center. Other tenants include BenchMark Physical Therapy, Okinawa Restaurant, UPS, Pizza King and Farmer’s Home Furniture.
