ATLANTA, GA – HFF announced today that it has closed the sale of Crabapple Shopping Center (middle right photo) and Saddlebrook Shopping Center (top left photo), two grocery-anchored shopping centers totaling 235,286 square feet in Alpharetta, Georgia.
HFF marketed the assets on behalf of the seller, LaSalle Investment Management. AEW Capital Management purchased both properties for $43.15 million free and clear of debt.
Crabapple Shopping Center is situated at 12460 Crabapple Road at the intersection of Arnold Mill Road and Crabapple Road. The 106,559-square-foot property was completed in 1995 and is 94 percent leased to tenants including Kroger, Domino’s Pizza, Subway, The UPS Store and Great Clips.
Saddlebrook Shopping Center is situated on more than 13 acres at 10945 State Bridge Road. The property totals 128,727 square feet and is 96 percent occupied by tenants including Kroger, Pizza Hut, Tuesday Morning and Goodyear.
The HFF team representing LaSalle Investment Management was led by directors Jim Hamilton (lower left photo) and Richard Reid (lower right photo).
LaSalle Investment Management is one of the world’s leading real estate investment managers. With nearly 700 employees in 17 countries worldwide, the firm manages $48 billion (as of Q1 2011) of private and public property equity investments.
Founded in 1981, AEW Capital Management, L.P. provides real estate investment management services to investors worldwide. Currently, AEW, AEW Europe and AEW Asia manage over $47 billion of real estate assets and securities (as of March 31, 2011) on behalf of many of the world's leading institutional and private investors. Contacts
Jim R. Hamilton, HFF Director, (404) 942-2212, jhamilton@hfflp.com
Richard M. Reid, HFF Director, (404) 942-2209, rreid@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500
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