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| 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.
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| Jim Hamilton |
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