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| Castleberry Southard Retail Center, 5475 Bethelview Road, Cumming, GA |
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| Ed Coco |
ATLANTA, GA –– Holliday
Fenoglio Fowler, L.P. (HFF) announced it has secured $11.5 million in acquisition
financing for Castleberry Southard,
a dominant 80,018-square-foot, Publix-anchored neighborhood retail center in
the affluent Atlanta submarket of Cumming, Georgia.
HFF worked on behalf of
the borrower, New Market – Castleberry, LLC, a wholly-owned subsidiary of New
Market Properties, LLC, to place the 10-year, fixed-rate financing with
Principal Global Investors. HFF brokered the sale of this property to the
borrower in a previously announced transaction.
Located at 5475 Bethelview Road in Cumming,
Castleberry Southard is situated at the “main and main” intersection of
Castleberry and Bethelview Roads in one of the most affluent and
fastest-growing submarkets in the Atlanta area.
More than 38,000 residents
earning an average annual income of more than $110,000 live within a three-mile
radius of the center. Built in 2006,
Castleberry Southard is 92 percent leased to a variety of tenants, including
Publix, The UPS Store, Subway, H&R Block and Huntington Learning Center.
The HFF debt placement
team representing the borrowers was led by senior managing director Ed Coco and associate Matt Casey.
“The acquisition of
Castleberry Southard adds another high-quality, market-leading grocery-anchored
shopping center to the New Market Properties’ portfolio, and we were pleased to
arrange financing to support New Market’s business strategy,” Coco said.
“The pace of growth and residential
development in the immediate area will only benefit the property and enhance
the investment in the years to come.”
For a
complete copy of the company’s news release, please contact:
Kristen M. Murphy
Director, Public Relations
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 |
Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
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