Lincoln Property Company Southeast Brokers $1.3 Million Office Building Sale in Northwest Atlanta

 

Jeff Henson

 ATLANTA, GA (Sept. 17, 2015) – Lincoln Property Company Southeast (Lincoln) has executed the $1.3 million sale of 2700 Delk Road, a 25,000-square-foot office building in Marietta, Georgia.

 Jeff Henson of Lincoln represented the seller, ECI Capital, Inc., in the transaction. The building was purchased by Aero Systems Engineering, a local engineering firm that was already based in Marietta that plans on occupying 40 percent of the building and leasing out the remainder.

“With the Atlanta office market thriving once again and rental rates continuing to rise, you are now seeing users that have historically leased space now considering buying their own building,” said Henson. 

For a complete copy of the company’s news release, please contact:

Savannah Duncan

The Wilbert Group

404-343-0870

sduncan@thewilbertgroup.com

Lincoln Property Company Southeast Brokers $15.7 Million Sale of Regional Power Center in Metro Atlanta Suburb

Chip Sipple

ATLANTA, GA  – Lincoln Property Company Southeast (Lincoln) and SRS Real Estate Partners have arranged the $15.7 million sale of Venture Pointe, a 335,151-square-foot power center located in Duluth, Georgia.

Tony Bartlett and Chip Sipple of Lincoln and Kyle Stonis and Pierce Mayson of SRS represented the seller, Wells Fargo Bank, N.A., in the transaction, which took place through Auction.com. Angkawijana LLC purchased the property, which is anchored by Kohl’s, Big Lots and Golfsmith.

“Venture Pointe garnered significant interest from the investment community because of its strategic location and significant value-add potential,” said Bartlett, senior vice president at Lincoln who oversees the firm’s Atlanta office. 

Located at 3960 Venture Blvd. in Duluth, the property benefits from its location at the Steve Reynolds Boulevard exit for I-85. Venture Pointe is strategically positioned within a significant retail corridor, located adjacent to PGA Superstore and Dave & Buster’s.

For a complete copy of the company’s news release, please contact:

Savannah Duncan

The Wilbert Group

404-343-0870

sduncan@thewilbertgroup.com

ARC – Retail Centers of America and Lincoln Buy 512,871-SF Multi-Tenant Retail Development in Hoover, A for $83.5 million

 

Tony Bartlett

 ATLANTA, GA  – American Realty Capital - Retail Centers of America I & II, a publicly registered, non-traded REIT, with Lincoln Property Company Southeast (Lincoln), has acquired the 512,871-square-foot Patton Creek, a multi-tenant retail development located in Hoover, Alabama.

 Patton Creek Holdings, LLC, sold the property for $83.5 million.

Patton Creek includes 65.7 acres of open-air retail, featuring a vibrant mix of entertainment, dining and shop tenants. Dick’s Sporting Goods, Rave Motion Pictures, Ross Dress for Less, Cost Plus World Market, DSW, Barnes & Noble, buybuyBABY and Christmas Tree Shops anchor the center. 

The property was approximately 95 percent leased at the time of the sale.

American Realty Capital – Retail Centers of America I & II seeks to acquire existing anchored, stabilized, retail properties, including power centers, lifestyle centers, grocery-anchored shopping centers and other need-based shopping centers located in the United States. The REIT currently owns more than 25 properties across the country.

“The property’s enviable location and superior access to I-65 and I-459 establishes it as one of the most convenient shopping centers in Alabama,” said Tony Bartlett, senior vice president of Lincoln. “Well-tenanted centers in good locations in secondary and tertiary markets are providing strong returns for investors, and buyers have to be aggressive to secure these opportunities.”  

For a complete copy of the company’s news release, please contact:

Savannah Duncan

The Wilbert Group

404-343-0870

sduncan@thewilbertgroup.com