Done Deals: JLL Capital Markets closes $30 million sale of the 81,077-square-foot, Publix-anchored Matt Town Center in Cumming, GA

Monday, December 25, 2023

JLL Capital Markets closes $30 million sale of the 81,077-square-foot, Publix-anchored Matt Town Center in Cumming, GA

Jim Hamilton

ATLANTA, GA – JLL Capital Markets has closed the $30 million sale of Matt Town Center, an 81,077-square-foot retail center located in Atlanta’s fast-growing submarket of Cumming, Georgia.

JLL represented the seller in this transaction, Retail Planning Corporation and Publix acquired the asset.

The JLL Retail Capital Markets team that represented the seller was led by Senior Managing Director Jim Hamilton, Managing Director Brad Buchanan and Vice President Andrew Kahn.

Matt Town Center is 95% occupied and anchored by a high-performing Publix. The offering also included ~3.87 acres of undeveloped land adjacent to the center that is currently zoned CBD - Commercial Business Zoning District, which allows commercial retail and office by right.

Matt Town Center, an 81,077-square-foot
retail center located in Atlanta’s
fast-growing submarket
of Cumming, GA

Built in 2020, Matt Town Center is located at 5310 Matt Hwy., less than one hour from downtown Atlanta. The center is close to demand drivers, including the mixed-use communities of Avalon, Halcyon and the future Coal Mountain Crossroads, as well as downtown Alpharetta, downtown Roswell, and Lake Lanier.

Brad Buchanan

Additionally, Matt Town Center benefits from a population of almost 200,000 and an average household income of nearly $150,000 within a 10-mile radius.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization.