Marietta, Ga. — Berkeley Capital Advisors has arranged the $43.8 million sale of Sandy Plains Marketplace, a 72,913-square-foot shopping center in Marietta. GreenWise Market, the smaller footprint organic grocery concept from Publix, anchors the property, which includes other tenants such as Hollywood Feed, Thrive Affordable Vet Care, Pacific Dental Services, MOD Pizza, First Watch, Bad Daddy’s, Synovus Bank and Panda Express. The seller, Atlanta-based Fuqua Development, delivered the asset at the beginning of January. The buyer was not disclosed.
Georgia
Elevator City Partners Unveils Plans for $400 Million West End Mall Redevelopment in Atlanta
Atlanta — Elevator City Partners (ECP) has unveiled plans for its $400 million West End Mall redevelopment project in Atlanta’s historic West End neighborhood. The unveiling of the plans follow months of public and private strategic meetings with community leaders and stakeholders, including nearby historic black colleges Spelman, Morehouse, Clark Atlanta University and Morehouse School of Medicine. The redevelopment of West End Mall will feature retail, restaurants, offices and housing delivered in two phases. The City of Atlanta provided a $2 million predevelopment loan to locally based-ECP to secure the …
MAB American to Break Ground on $80 Million Monroe Pavilion Shopping Center in Metro Atlanta
Monroe, Ga. — MAB American Management plans to break ground in the first quarter on Monroe Pavilion, an $80 million shopping center situated on a 100-acre site in Monroe, an Atlanta suburb in Walton County. The property’s leasing agent, Retail Specialists, has signed several retailers to join the tenant roster of the 350,000-square-foot project, including Publix, Ross Dress for Less, Ulta Beauty, Marshalls, Rack Room Shoes and Five Below. Beau Young of Retail Specialists is also targeting restaurants and service-based retailers for the shopping center and its outparcels. MAB American …
Halpern Enterprises Acquires Hobby Lobby-Anchored Shopping Center in Metro Atlanta for $11.6 Million
Newnan, Ga. — Halpern Enterprises Inc. has acquired Newnan Crossing, a 92,412-square-foot shopping center in Newnan, about 35 miles southwest of downtown Atlanta. Ohio-based Retail Value Inc. sold the property to Smyrna, Georgia-based Halpern Enterprises for $11.6 million. A 66,412-square-foot Hobby Lobby anchors the center, which was fully leased at the time of sale. Other tenants include CATO, GNC, Edible Arrangements, Sally Beauty, American Deli, The Athlete’s Foot and T-Mobile. Walmart and Lowe’s Home Improvement shadow-anchor the center. Newnan Crossing was built in 1996 and is situated adjacent to Interstate …
JLL Arranges $34.6 Million Acquisition Loan for Barrett Pavilion Shopping Center in Metro Atlanta
Kennesaw, Ga. — JLL has arranged $34.6 million in acquisition financing for Barrett Pavilion, a 458,740-square-foot retail center in Kennesaw, 22 miles northwest of downtown Atlanta in Cobb County. The borrower and buyer is a partnership between Lincoln Property Co. and Stockbridge. Tarik Bateh and Jennifer Swanson of JLL negotiated the four-year, floating-rate loan through Prime Finance. Margaret Caldwell and Margaret Jones of JLL represented the seller, a partnership between Nuveen Real Estate and SITE Centers Corp., in the sale. Barrett Pavilion is situated on approximately 55 acres near the …
Lawrenceville, Ga. — CW Capital has sold Village Shoppes of Sugarloaf, a 149,805-square-foot retail center in Lawrenceville. Publix anchors the property, which is located at 3330-3410 Sugarloaf Parkway, 30 miles northeast of downtown Atlanta. Village Shoppes was 63 percent leased at the time of sale. Scott Israel, Adam Sklaver and Phil Kates of CBRE represented the seller in the transaction. Branch Properties acquired the asset at a 5.5 percent cap rate.
Woodstock, Ga. — CBL Properties has sold a 15 percent interest in The Outlet Shoppes at Atlanta in Woodstock for $20.8 million to its joint venture partner, Horizon Group Properties. Both companies now own a 50 percent stake in the property. Net proceeds from the sale were used to reduce outstanding balances on CBL’s line of credit. CBL has sold $180 million worth of its assets in 2019, says Stephen Lebovitz of CBL, which announced earlier this month that it would indefinitely suspend stock dividends. The Outlet Shoppes at Atlanta …
Dacula, Ga. — Franklin Street has arranged the $7.7 million sale of Shops at Hamilton Mill, a 43,458-square-foot retail center in Dacula. The property was 84 percent leased at the time of sale to tenants including Wild Wing Café, J. Christopher’s, Iron Wok, Nails by Tori and Karate Atlanta Hamilton Mill. The center is located at 3523 Braselton Highway, 40 miles northeast of downtown Atlanta. Bryan Belk and John Tennant of Franklin Street represented the seller, Fairway Investments, in the transaction. The buyer was M&P Properties.
Atlanta — The future of food and beverage retail is…sports? To hear from “The Future of Restaurants & Entertainment” panel at the ICSC Southeast Conference & Deal Making event, sports-centric concepts are a solid bet for retail real estate owners to pursue going forward. Produced by the International Council of Shopping Centers (ICSC), the event was held Nov. 13-15 at the newly renovated Georgia World Congress Center in downtown Atlanta. Justin Amick, president of Painted Hospitality, spoke during the panel about his two venues in Atlanta, The Painted Pin and …
JLL Negotiates Sale of 335,190-Square-Foot Cobb Place Shopping Center in Metro Atlanta
Kennesaw, Ga. — JLL has negotiated the sale of Cobb Place, a 335,190-square-foot retail center in Kennesaw. The property was 95 percent leased at the time of sale to tenants including Bassett Furniture, American Signature Furniture, Ashley Furniture, Bed Bath & Beyond, Cost Plus World Market, Hobbytown USA, DSW, Jersey Mike’s and Play It Again Sports. Cobb Place is situated on 31 acres at 840 Ernest W. Barrett Parkway, 24 miles northwest of downtown Atlanta. Jim Hamilton and Brad Buchanan of JLL represented the seller, a partnership between DRA Advisors …