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| Publix Plaza, 620 Virginia Avenue North, adjacent to the Interstate 75 in Tifton, GA |
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| Brad Peterson |
ORLANDO, FL - HFF announced it has closed the sale of Publix
Plaza, a 52,600-square-foot grocery-anchored retail center in Tifton,
Georgia.
HFF marketed the property on behalf of the seller, TMall
Development, LLC, an RCG Ventures related entity. Publix Super Markets, Inc. purchased the unencumbered property
for $7.043 million.
Publix Plaza is located at 620 Virginia Avenue North
adjacent to the Interstate 75 in Tifton.
Completed in 2012,
the Publix-anchored center is 98.1 percent leased and is situated adjacent to
Tifton Plaza, which includes tenants such as Belk, JCPenney, Bealls Outlet,
JoAnn Fabrics, TJ Maxx and Carmike Cinemas.
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| Whitaker Leonhardt |
The HFF team representing the seller was led by senior
managing director Brad Peterson and real estate analyst Whitaker
Leonhardt.
“Due to its location and its Tifton Plaza shadow anchor,
Publix Plaza enjoys an extended trade area that spans more than 20 miles. With
the nearest Publix being more than 45 miles away, customers are travelling
considerable distances to visit the center,” commented Peterson.
RCG Ventures is an Atlanta‐based privately funded real
estate investment group that: acquires shopping centers, buys distressed debt,
and develops commercial real estate in the continental United States.
The company’s primary focus is acquiring and repositioning
value‐add anchored shopping centers in secondary and tertiary markets.
Founded in November
of 2003, RCG Ventures has steadily grown its portfolio through direct
investment in shopping centers.
In addition, the company selectively enters into joint
ventures with institutional partners and with owners in search of an equity
partner.
Since inception, RCG has acquired 85 assets totaling
approximately $500 million of Invested Capital. RCG's current portfolio
includes approximately 66 assets in 20 states, and over 6.75 million square
feet.
Additional information about RCG Ventures can be found at www.rcgventures.com.
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel (main) 617-338-0990 | (direct) 617-338-1572 | cel
617.543.4873 | www.hfflp.com
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