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| Hickory Flat Commons, 6764-6776 Hickory Flat Highway, Canton, GA |
ATLANTA, GA – JLL Capital Markets announced it has
closed the $18.6 million sale of Hickory Flat Commons, a stabilized,
Kroger-anchored retail center in the high-growth, suburban Atlanta community of
Canton, Georgia.
JLL marketed the property on behalf of the seller. Phillips
Edison & Company purchased the asset as part of a 1031 Exchange.
With an occupancy rate of 97%, Hickory Flat Commons is home
to one of the top-performing Kroger stores in Georgia along with a tenant
roster comprising a mix of essential, restaurant, apparel and service-oriented
retailers.
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| Jim Hamilton |
The
asset was constructed in 2008 at 6764-6776 Hickory Flat Hwy. in the highly
sought-after Cherokee County/Canton corridor, an affluent and high-growth
Atlanta-area submarket.
The Hickory Flat Commons trade area is one of
the most active home-building markets in the state and has more than 1,400 new
homes that are either recently delivered or under construction within a three-mile
radius of the property.
Nearly
60,000 residents who earn an average annual household income of $129,148
live within a five-mile radius of the property.
The JLL Retail Capital Markets team representing the seller
was led by Senior Managing Director Jim Hamilton.
“Hickory Flat Commons’ Kroger anchor is one of the top-performing
Kroger stores in Georgia and is complemented by unparalleled residential growth
in the immediate trade area,” Hamilton said.
“The
property is a dominant shopping center with extended drawing power and benefits
from limited retail competition nearby.”
Contact:
Kimberly
Steele,
JLL
Senior Associate
Public Relations
Phone: +1 713 852 3420
Email: Kimberly.Steele@am.jll.com
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