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| Kyle Stonis |
ATLANTA, GA – Lincoln
Property Company Southeast (Lincoln) and SRS Real Estate Partners have arranged
the $22.95 million sale of City
Crossing, a 298,933-square-foot power center located in Warner Robins,
Georgia.
Tony Bartlett
and Chris Sipple of Lincoln and Kyle Stonis and Pierce Mayson of SRS represented the seller, Wells Fargo Bank,
N.A., in the transaction. D&J Real Estate Management purchased the
property, which is anchored by The Home Depot, Ross Dress for Less, HomeGoods,
Old Navy and Michaels.
Originally engaged in 2012
as Receiver for City Crossing, Lincoln stewarded the center through a difficult
period and was able to re-invigorate the asset through aggressive leasing and
management, increasing occupancy to 86 percent while also addressing a variety
of complex construction, insurance and legal issues that had collectively
stymied project leasing.
“The project really
brought out the best in our team and our ability to bring different disciplines
within our service platform together to focus on the challenges was key to
performance on the assignment,” said Bartlett, senior vice president at Lincoln
who oversees the firm’s Atlanta office. “Providing our client with a ‘single
stop shop’ from which to address the issues and execute a coordinated strategy
ultimately added tremendous value for our client.”
Located at 2620 Watson Blvd.
in Warner Robins, the property benefits from its location at the intersection
of Watson Boulevard and Carl Vinson Parkway, which is crossed by more than
44,000 vehicles per day.
For a
complete copy of the company’s news release, please contact:
Savannah Duncan
The Wilbert Group
404-343-0870
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