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ShopOne Facilities REIT Inc., Pantheon and a worldwide institutional investor have bought Sharon Greens, a 98,224-square-foot procuring middle in Cumming, Ga., in metro Atlanta.
SITE Facilities bought the property for $17.4 million, in accordance with public information. Sharon Greens final traded in 2007, when SITE acquired the asset for $17.9 million, in accordance with CommercialEdge information.
Accomplished in 2001, the neighborhood procuring middle includes three buildings on a 15.4-acre website. Anchored by Kroger, Sharon Greens was 100% leased on the time of the sale. The property’s tenant roster consists of Chase Financial institution, The UPS Retailer, Pet Provides Plus, Heartland Dental Care, Goodwill, Kumon Math & Studying Heart, State Farm, Nice Clips, Papa John’s and Sushi Sama.
Sharon Greens is positioned at 1595 Peachtree Parkway, within the Forsyth County. The property’s location close to the intersection of Peachtree Parkway and Sharon Street gives direct entry to downtown Atlanta. The procuring middle is positioned in an space that has a visitors depend of roughly 60,000 autos every day. Sharon Greens is surrounded by 61,489 residents inside a 3-mile radius, with a median family revenue that exceeds $200,000.
The acquisition of Sharon Greens marks the three way partnership’s third grocery-anchored procuring middle in Atlanta and the thirteenth asset of its variety within the partnership’s portfolio. Earlier this 12 months, Pantheon and ShopOne bought Bethesda Stroll, a 68,271-square-foot retail middle in Lawrenceville, Ga. The three way partnership has additionally not too long ago entered the Massachusetts retail market, with the acquisition of Heritage Park Plaza, a 117,337-square-foot procuring middle in East Longmeadow, Mass.
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