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| Margaret Caldwell |
The 157,002-square-foot power center is anchored by T.J. Maxx, Ross Dress For Less, PetSmart and OfficeMax and was 97 percent leased at the time of sale.
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| Stonebridge Village shopping center Flowery Branch, GA |
Margaret Caldwell and Patrick Kelley of Stan Johnson Company exclusively represented the seller.
The asset was acquired for an undisclosed price by Rivercrest Realty Investors LLC, a private investor based in Raleigh, North Carolina.
“Stonebridge Village is a highly sought-after power center with exceptionally performing tenants in a northern suburb of Atlanta near Lake Lanier,” said Caldwell, Managing Director and Partner in Stan Johnson Company’s Atlanta, Georgia office.
The
property was originally built in 2008 and is situated on 24.76 acres at the
intersection of Interstate 985 and Spout Springs Road just 30 miles northeast
of downtown Atlanta.
Patrick Kelley
The
center is shadow-anchored by Target, Kohl’s and Home Depot and features a
diverse tenant mix of soft and hard goods as well as service retailers,
providing synergy and cross-shopping opportunities.
“With the nearest competing center almost ten miles away, Stonebridge Village draws from a massive trade area and has remained well occupied with more than 85 percent of the tenants being first generation,” added Kelley.
CONTACT:
David Ebeling
Ebeling Communications
949.861.8351
949.278.7851 (Cell)
Member of the National Association of Real
Estate Editors (NAREE)
“PR Strategist for the Commercial Real Estate
Industry: I do what I love and love what I do.”
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