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Clearwater Crossing in Flowery Branch, Georgia purchased by Forum Management Group
ATLANTA, May 17, 2018 – JLL today announced it has sold Clearwater Crossing, a 90,566-square-foot shopping center owned by a joint venture between Madison International Realty and DDR Corp., to Forum Management Group. The center is more than 95 percent occupied and anchored by a high-performing Kroger on Atlanta's attractive north side in a growing and affluent submarket. The property traded for $16.85 million.
JLL's Managing Director Margaret Caldwell and Vice President Margaret Jones led the transaction.
"Population growth in Atlanta has made grocery-anchored retail assets extremely attractive to investors," said Caldwell. "Clearwater Crossing's strategic location and strong tenancy with a Kroger made this a highly sought after offering."
The property captures shoppers from the wealthiest parts of Hall County, one of the top 50 fastest growing metros in the U.S., which is growing by 2.5 percent annually. It is situated in an expansive trade area, with a population of exceeding 32,000 and an average household income of $107,798. Additionally, the limited competition within the traditional 3-mile radius attracts shoppers from a long distance due to the connectivity provided by Friendship Road, Spout Springs Road and Thompson Mill Road.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2017, JLL had revenue of $7.9 billion, managed 4.6 billion square feet, or 423 million square meters, and completed investment sales, acquisitions and finance transactions of approximately $170 billion. At the end of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of 82,000. As of December 31, 2017, LaSalle had $58.1 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.
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