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CBL Properties Sells Interest in The Outlet Shoppes of Atlanta for $20.8 Million

by Alex Tostado

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 …

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GeorgiaInvestment salesNewsRetailers

Franklin Street Arranges $7.7 Million Sale of Shops at Hamilton Mill Near Atlanta

by Alex Tostado

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.

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EntertainmentFeaturesGeorgiaNewsRetailersSCBlog

Sports Entertainment Provides a Promising Future for Retail Real Estate

by Alex Tostado

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 …

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GeorgiaGrocery-anchoredInvestment salesNews

JLL Negotiates Sale of 335,190-Square-Foot Cobb Place Shopping Center in Metro Atlanta

by Alex Tostado

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 …

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GeorgiaInvestment salesNewsRetailers

Halpern Enterprises Acquires 133,310-Square-Foot Shopping Center in North Georgia

by Alex Tostado

Calhoun, Ga. — Halpern Enterprises has acquired Indian Hills, a 133,310-square-foot shopping center in Calhoun. Developed in 1998, Indian Hills’ current tenants include Chick-fil-A, Hibbett Sports, CATO, GNC, PT Solutions and Tractor Supply. Taco Bell and Captain D’s are located on separately owned parcels directly in front of the property. Indian Hills is located at 429 Ga. Highway 53, directly across from Mohawk Industries, which employs 3,400 people. The seller and sales price were not disclosed.

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GeorgiaGrocery-anchoredInvestment salesNewsRetailers

JLL Negotiates Portfolio Sale of Publix-Anchored Shopping Centers in Metro Atlanta

by Alex Tostado

Acworth and Lithonia, Ga. — JLL has negotiated the sale of two Publix-anchored shopping centers near Atlanta: Publix at Acworth and Centre at Panola in Lithonia. Publix at Acworth is located at 3507 Baker Road in Acworth, 30 miles northwest of downtown Atlanta. The 69,628-square-foot center was 98 percent leased at the time of sale to tenants including CVS/pharmacy, WellStar, Domino’s Pizza, Coast Dental Services, Supercuts and Cricket Wireless. Centre at Panola is located at 3007 Panola Road, 15 miles east of downtown Atlanta. Centre at Panola was fully leased …

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GeorgiaMixed-useNewsRetailers

CBRE Global Investors Purchases Alpharetta City Center

by Alex Tostado

Alpharetta, Ga. — JLL has arranged the sale of Alpharetta City Center, a mixed-use development featuring 168 residential units, a town green and 82,700 square feet of retail and restaurant space. The District, a 41,650-square-foot collection of local boutiques and service providers, sits at street level below the apartments. The Gardens, developed by Morris & Fellows, houses 41,050 square feet of chef-driven restaurants spanning two acres of parks and green spaces across three city blocks of Main Street. The retail and restaurants were fully leased at the time of sale. …

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GeorgiaGrocery-anchoredInvestment salesNewsRetailers

Colliers Arranges Sale of Two Metro Atlanta Shopping Centers Totaling 147,444 Square Feet

by Alex Tostado

Monroe and Villa Rica, Ga. — Colliers International has arranged the sale of two shopping centers near Atlanta: Monroe Plaza and Villa Rica Crossing. Monroe Plaza spans 89,860 square feet and is located at 748-796 W. Spring St. in Monroe, about 45 miles east of downtown Atlanta. The center was fully leased at the time of sale to tenants including Quality Foods, Cato, Family Dollar and Roses Express. A private buyer acquired the property from Malon D. Mimms Co. for an undisclosed price. Food Depot anchors Villa Rica Crossing, which …

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Company newsGeorgiaIllinoisInvestment salesNewsRestaurants

Arby’s Parent Company to Acquire Jimmy John’s

by Alex Tostado

Atlanta and Champaign, Ill. — Inspire Brands Inc., the parent company of Arby’s, has agreed to acquire Jimmy John’s Gourmet Sandwiches. Terms of the transaction, expected to close by the end of October, were not disclosed. The Jimmy John’s Board of Directors, including founder and chairman Jimmy John Liautaud, unanimously approved the agreement. Jimmy John’s had $2.15 billion in U.S. sales last year across 2,803 stores, a roughly 50 percent increase in both sales and locations since 2013, according to The Wall Street Journal. Jimmy John’s, based in Champaign, opened its …

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DevelopmentGeorgiaNewsRestaurants

Velvet Taco Opens First Restaurant in Atlanta

by Alex Tostado

Atlanta — Velvet Taco has opened its first Atlanta restaurant in Buckhead. The 2,500-square-foot establishment is situated at 77 W. Paces Ferry Road within a Whole Foods Market-anchored shopping center. The late-night joint offers a variety of chicken, beef, pork, fish and vegetarian tacos as well as brunch options. Velvet Taco expects to open a second Atlanta location next year at the Interlock development in West Midtown, according to local media. Based in Dallas, the brand also operates restaurants in Austin, Chicago and Houston.

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