HFF closes sale of anchored shopping center in Atlanta MSA

North Lake Square shopping Center, 1146 Dawsonville Highway,  Gainesville, GA

ATLANTA, GA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of North Lake Square, a 140,000-square-foot new retail center in Gainesville, Georgia, a northern Atlanta suburb.

HFF marketed the property for the seller, GH Anderson & Co.  VEREIT, Inc., acquired the asset on behalf of Cole Real Estate Income Strategy (Daily NAV), Inc.

Jim Hamilton

Located at 1146 Dawsonville Highway in Gainesville, North Lake Square is a recently constructed power center adjacent to Lake Lanier, one of Atlanta’s top recreational centers attracting more than 7.5 million tourists a year. 

The property benefits from strong fundamentals, including high traffic counts exceeding 54,000 vehicles per day; a regional retail destination serving an extended trade area up to 30 miles; weighted average lease term of more than 10 years and the drawing power of multiple anchor tenants such as Burlington, Hobby Lobby, Five Below and HomeGoods.

The HFF investment sales team representing the seller was led by senior managing directors Jim Hamilton and Richard Reid and associate Brad Buchanan.

“North Lake Square represented the opportunity to acquire a recently built retail center with a dominant tenant line-up on the periphery of Lake Lanier, one of the Southeast’s most notable tourist attractions with over 7.5 million annual visitors,” Hamilton said.

For more information on this news release, please contact:

Olivia Hennessey

Public Relations Specialist

HFF | 9 Greenway Plaza, Suite 700 | Houston, Texas 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com