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| Chip Sipple |
ATLANTA, GA (Sept. 28,
2015) – Pleasant Hill Square, a 282,137-square-foot power center located in
Duluth, Georgia, has been listed on Auction.com and the auction is set to begin
on Tuesday, Sept. 29, and end on Wednesday, Sept. 30.
Tony Bartlett
and Chip Sipple of Lincoln Property
Company Southeast (Lincoln) and Kyle
Stonis and Pierce Mayson of SRS
are representing the seller.
“The broader Atlanta
retail market has been enjoying steady improvement over the past year,” said
Tony Bartlett, senior vice president at Lincoln who oversees the Atlanta
office.
“Overall retail vacancy declined to the
current rate of 7.7 percent, down from 8.2 percent in the first quarter of this
year from previous quarters. The Gwinnett County submarket generally mirrors
the broader market improvements with vacancy only slightly behind the overall
rate of 8.3 percent, down from 8.8 percent in the first quarter.”
 |
| Tony Bartlett |
Located at 2205 Pleasant
Hill Road, the property is strategically positioned within a significant retail
corridor, located just northwest of I-85. Toys ‘R’ Us, Staples and Jo-Ann
Fabric & Craft Stores anchor the center, which is 49 percent occupied.
The
center features good visibility with multiple access points from Pleasant Hill
Road and provides a strong value-add opportunity.
The property sits within
the Gwinnett Community Improvement District (CID), which has been actively
engaged in improving the community as of recent.
In early September, the CID
recently released its ACTivate Gwinnett Place master plan, which calls for the
redevelopment of Gwinnett Place Mall, with the addition of more green space,
and connectivity and transportation improvements.
The CID is also testing
recycled pathways throughout the city, and in August hosted The Gr8 Exchange,
fostering conversations among residents about transportation.
For a complete copy of the company’s news release,
please contact:
Savannah Duncan
The Wilbert Group
404-343-0870
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