Duluth, Ga. — The Urban Redevelopment Agency of Gwinnett County has approved the purchase of a former Sears department store at Gwinnett Place Mall, a struggling regional mall situated along Pleasant Hill Road near Interstate 85 in metro Atlanta. Northwood Ravin will sell the 11.5-acre site to the county for $11.5 million, the same price the Charlotte-based multifamily developer paid for the property in 2018. With the Sears acquisition, Gwinnett County now owns a combined 87.5 acres at Gwinnett Place Mall. Plans for the mall redevelopment include a mixed-use destination …
Georgia
Marcus & Millichap Brokers $2.7 Million Sale of Single-Tenant Retail Property in Metro Atlanta
Acworth, Ga. — Marcus & Millichap has brokered the $2.7 million sale of a newly built, single-tenant retail property located in Acworth, a northwest suburb of Atlanta. Whataburger occupies the 3,318-square-foot freestanding restaurant, which features a double drive-thru, on a 15-year corporate ground lease. Don McMinn and Andrew Koriwchak of Marcus & Millichap represented the seller, an unnamed developer based in Georgia, in the transaction. Mark Ruble, Chris Lind and Zack House of Marcus & Millichap procured the unnamed buyer. The Whataburger restaurant was delivered in April and is adjacent to …
Academy Sports + Outdoors Opens 11 New Stores in Third Quarter 2025
Katy, Texas — Katy, Texas-based Academy Sports + Outdoors has opened 11 new stores in the third quarter of this year, with plans to debut a total of up to 25 new locations in 2025. The sporting goods and outdoor recreation retailer has already launched three new locations in Boardman, Ohio; Beaufort, South Carolina; and Virginia Beach, Virginia; and will open eight more stores in fall 2025 in Rome, Georgia; Cullman, Alabama; Mishawaka, Indiana; Lakeland, Florida; Columbia, Tennessee; Albany, Georgia; Palestine, Texas; and Batesville, Mississippi. The 11 new store openings this …
Dunwoody, Ga. — Marcus & Millichap Capital Corp. (MMCC) has arranged $4 million in financing for the acquisition of Dunwoody Village, a 15,382-square-foot retail center located in Dunwoody, a suburb of Atlanta. David Johnson of MMCC’s Atlanta office secured the loan with a national bank on behalf of a private client. The five-year loan includes a 6.41 percent interest rate with a 30-year amortization schedule. Shadow anchored by The Fresh Market and Walgreens, Dunwoody Village features a mix of tenants including CVS Pharmacy, Chipotle Mexican Grill and a pet store.
Atlanta — Simon has introduced 18 new and expanded retailers debuting at Lenox Square, a 1.5 million-square-foot super-regional center located in Atlanta’s Buckhead district. Nine of the tenants are now open and operating at Lenox Square, including three expanded stores: Rolex, Burberry and Ferragamo. The other six open stores are Good American, AllSaints, Ray-Ban, Rowan, Starbucks Coffee and Claire’s. Nine more concepts are set to open later this year, including IWC, Panerai, Mejuri, Cole Haan, Garage, Lovisa, Levi’s, Kelly’s Cajun Grill and Great American Cookie Company/Marble Slab. David Vinehout serves …
Dalton, Ga. — Matthews Real Estate Investment Services has facilitated the sale of Northside Plaza, a 73,931-square-foot retail center located in Dalton, roughly 30 miles south of Chattanooga, Tennessee. America’s Thrift Stores and Dollar Tree anchor the property, which was 92 percent leased at the time of sale. Other tenants include Subway, Jackson Hewitt Tax Service, PT Solutions, Little Caesars and an outparcel occupied by a freestanding Chick-fil-A. Kyle Stonis, Pierce Mayson and Boris Shilkrot of Matthews brokered the transaction. A Texas-based family office purchased Northside Plaza for an undisclosed …
Phillips Edison & Co. Acquires The Shops at Butler Crossing in Metro Atlanta for $13.9 Million
Kennesaw, Ga. — Phillips Edison & Co. has acquired The Shops at Butler Crossing, a 56,934-square-foot shopping center located in the Atlanta suburb of Kennesaw, for $13.9 million. Tenants at the center, which was 94 percent leased at the time of sale, include Planet Fitness, Advance Auto Parts, Buffalo’s American Grille, Sola Salon Studios, Jersey Mike’s and Dunkin’ Donuts. The property was originally built in 1997 and sits on 6.7 acres, according to LoopNet. Brad Buchanan, Jim Hamilton, Andrew Kahn and Anton Serafini of JLL’s Investment Sales and Advisory team …
Lawrenceville, Ga. — North Carolina-based Prudent Growth Partners has acquired Sugarloaf Village, a 32,000-square-foot shopping center located in Lawrenceville, for $7.3 million. Situated approximately 30 miles northeast of downtown Atlanta, the property was originally built in 2008 and features a mix of 17 tenants including lifestyle retailers and service providers. Other nearby retailers include AT&T, Starbucks Coffee, Publix, Target, Marshalls, ALDI, Home Depot, PetSmart, Hobby Lobby and Panera Bread. Eric Abbott and Zach Taylor of Marcus & Millichap represented the seller, a local private investor, in the transaction.
Matthews Real Estate Facilitates $25 Million Sale of 174,175-Square-Foot Retail Center in Metro Atlanta
Roswell, Ga. — Matthews Real Estate Investment Services has facilitated the $25 million sale of Sandy Plains Village, a 174,175-square-foot community retail center located in the Atlanta suburb of Roswell. Positioned along the Ga. Highway 92 corridor, Sandy Plains Village comprises two single-story, multi-tenant retail buildings, as well as three single-tenant outparcels that house Lucia’s Italian, Dunkin’ and The Flippin’ Chicken. The property also features an 18,625-square-foot mixed-use strip complex named Sandy Plains Village II. Painted Tree Boutiques, Movie Tavern and Dollar Tree anchor the property. Approximately 15,000 square feet …
West Palm Beach, Fla. and Buford, Ga. — Northbrook, Illinois-based Pine Tree has been selected to provide management services for two shopping centers owned by Invesco, which total 700,000 square feet. The properties include the Palm Beach Promenade in West Palm Beach, Florida, and Georgia Crossing in Buford, Georgia. Pine Tree’s Southeast management portfolio now totals 3.8 million square feet. The 300,000-square-foot Palm Beach Promenade is anchored by Whole Foods Market and features a mix of more than 100 tenants including Ross Dress For Less, TJ Maxx, Marshalls, HomeGoods and …