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.
Georgia
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 …
Invesco Real Estate Acquires 317,201-Square-Foot Power Center in Metro Atlanta for $82 Million
Buford, Ga. — Invesco Real Estate has acquired Georgia Crossing, a 317,201-square-foot power center located in Buford, roughly 38 miles north of Atlanta, for $82 million. Situated across from the 1.7 million-square-foot Mall of Georgia, Georgia Crossing was fully leased to a mix of tenants including TJ Maxx/HomeGoods, Nordstrom Rack, Best Buy, Hobby Lobby, Staples, Cavender’s Boot City and Ulta Beauty at the time of sale. Jim Hamilton, Brad Buchanan and Andrew Kahn of JLL’s Investment Sales and Advisory team represented the seller, Washington Prime Group, in the transaction.
Marcus & Millichap Negotiates $5.5 Million Sale of 65,267-Square-Foot Retail Center in Metro Atlanta
Morrow, Ga. — Marcus & Millichap has negotiated the $5.5 million sale of the Pavilion at Southlake, a 65,267-square-foot retail center located in the Atlanta suburb of Morrow. Situated at 1331-1389 Mt. Zion Rd., the property sits directly across from Southlake Mall and adjacent from a $117 million convocation center currently under development. The center — which comprises 13 buildings — was 92 percent leased at the time of sale. Tenants include Humana, H&R Block, LensCrafters and Bank of America. Eric Abbott and Zach Taylor of Marcus & Millichap’s Atlanta office …
Legacy Realty Group Arranges Sale of 174,459-Square-Foot Shopping Center in Columbus, Georgia
Columbus, Ga. — Legacy Realty Group has arranged the sale of Manchester Square, a 174,459-square-foot shopping center located in Columbus. Situated at the intersection of Woodruff Farm and Milgen roads, Food Depot anchors the property. Other tenants include Ollie’s Bargain Hunt, O’Reilly Auto Parts, Planet Fitness, Subway, T-Mobile, H&R Block, Unlimited Wireless, Peluso’s Italian Restaurant and Rainbow Fashions. Built in 1988, the property sits on 22 acres. Jacob Baruch, Jonah Warshaw and Daniel Baruch of Legacy Realty Group Advisors represented both the buyer and seller, Arkansas-based CORE Equity Partners, in …
Trilith Development to Complete 530,000-Square-Foot Live Entertainment Complex in Fayetteville, Georgia
Fayetteville, Ga. — Trilith Development plans to soon complete Trilith Live, a 530,000-square-foot live entertainment complex at the Town at Trilith, a 235-acre master-planned community in Fayetteville within south metro Atlanta. Designed to host concerts, performing arts, rehearsals, live audience productions, conventions, corporate events and banquets, Trilith Live is scheduled to open to the public by the end of the year. The project will include a 2,200-seat theater, two 25,000-square-foot sound stages (now open), multiple insert stages, a luxury cinema, production suites, meeting rooms and more than 120,000 square feet …
Canton, Ga. — Matthews Real Estate Investment Services has negotiated the sale of Woodmont Village, an 85,639-square-foot shopping center located in Canton, approximately 40 miles north of Atlanta. Kroger anchors the center, which was 75 percent leased at the time of sale. Other tenants at the property include The UPS Store, Anytime Fitness, Pizza Hut, Ace Hardware, Advance Auto Parts, Fabricare Cleaners and Las Palmas Mexican restaurant. Kyle Stonis, Pierce Mayson and Boris Shilkrot brokered the transaction. Aubuchon Realty Co. was the buyer.
Atlanta — Atlanta-based RCG Ventures (RCG) has completed the acquisition of a $1.8 billion multi-tenant retail portfolio from Global Net Lease (GNL). The three-phase transaction included 99 properties across 28 states, totaling more than 14 million square feet. The acquisition was initiated earlier this year, backed by equity investments from institutional partners including Ares Management, Koch Real Estate Investments and Goldman Sachs Alternatives. This brings RCG’s portfolio to more than 130 retail properties in the U.S. Truist Securities Inc. served as RCG Ventures’ financial advisor, while KeyBank Institutional Real Estate provided …
Alpharetta, Ga. — The Forsyth County Board of Commissioners has approved plans for The Gathering at South Forsyth, a $3 billion mixed-use development located in Alpharetta, roughly 26 miles north of Atlanta. Situated near Ronald Reagan Boulevard and Union Hill Road, the 100-acre development will include an 18,000-seat arena as the centerpiece of the property, along with residential, retail and dining components. The project, which is led by Krause Sports and Entertainment, aims to attract a National Hockey League (NHL) expansion team to the region. The region hasn’t had an …