.jpg) |
| Albany Square retail power center, 2707 Dawson Road, Albany, GA |
ORLANDO, FL - HFF announced today that it has closed the
sale of Albany Square, a 125,038-square-foot retail power center in
Albany, Georgia.
 |
| Brad Peterson |
HFF
marketed the property on behalf of the seller, Equity Investment Group. Cole Credit Property Trust IV, Inc., a real
estate investment trust affiliated with American Realty Capital Properties,
Inc., purchased the asset for $9.7 million free and clear of existing debt.
Albany Square is located at 2707
Dawson Road in Albany and was completely renovated in 2013. The property is 97.6 percent leased to
tenants including Hobby Lobby, PetSmart and Party City.
The
HFF investment sales team representing the seller was led by senior managing
director Brad Peterson and senior financial analyst Whitaker
Leonhardt in HFF’s Orlando office.
Peterson noted, “Albany Square is located at the epicenter
of the most dominant retail trade area in southwest Georgia. Albany Square is adjacent to a successful
Publix Supermarkets and Target and directly across the street from the Albany
Mall.
“With the recent addition of a new Petsmart and Party City
to the retail center, combined with recent capital improvements, it feels like
a brand new center.”
 |
| Whitaker Leonhardt |
Equity
Investment Group, Inc. (EIG) is a diversified, Midwest-based investment company
with over 60 years of experience investing in and managing commercial real
estate and operating companies throughout the United States.
EIG currently owns and manages approximately 40 retail
centers in 20 states in addition to office, industrial and other regional
commercial property holdings. EIG
affiliates also own and manage several national B2B and B2C manufacturing and
distribution companies.
EIG’s headquarters are located in Fort Wayne, Indiana, with
affiliate offices in Atlanta.
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
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
No comments:
Post a Comment