Atlanta Kroger-anchored retail center sells for $16.2M
JLL Capital Markets completed the sale of the Kroger-anchored Crossroads South in a dense and growing neighborhood
ATLANTA, Dec. 14, 2021 – JLL Capital Markets announced today that it has closed the $16.2 million sale of Crossroads South, a 201,404-square-foot, Kroger-anchored retail center in Atlanta, Georgia.
JLL represented the seller. First National Realty Partners acquired the asset.
Crossroads South is 92 percent leased to a loyal and well-tenured rent roll that includes multiple anchors, including Kroger, Plant Fitness, Badcock Furniture & More and Roses. It is also home to inline tenants such as Subway, H&R Block, Shoe Show and Top Nails. Kroger generates strong sales at this location and recently executed a long-term renewal with plans to construct and operate a Kroger Fuel Center at the Property.
The property is situated on 23.39 acres at 7965 Tara Blvd. in a highly visible location at the intersection of Tara Boulevard and Highway 138, which is traversed by approximately 81,000 vehicles per day. Located in the highly sought-after Atlanta MSA, Crossroads South serves a trade area that includes more than 77,800 residents living within a three-mile radius.
The JLL Retail Capital Markets Investment Sales and Advisory team that represented the seller was led by Senior Managing Director Jim Hamilton, Senior Director Brad Buchanan and Associate Taylor Callaway.
“Demand for grocery-anchored investments is the strongest we’ve seen in nearly two decades,” Hamilton said. “We have seen many investors shift their strategy to retail investments, with grocery-anchored being the most highly sought after.”
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. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 95,000 as of September 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About First National Realty Partners
First National Realty Partners (FNRP) is a rapidly growing commercial real estate private equity firm that owns and operates real estate throughout the United States. FNRP focuses on expanding its portfolio by acquiring market-dominant, well-located commercial assets well below replacement cost. Being vertically integrated, FNRP actively manages its portfolio through an in-house team of full-time real estate professionals focused on acquisitions, property/asset management, leasing, finance, accounting, and investor relations. FNRP owns and operates 36 properties totaling over 4.5 million square feet, throughout the U.S. For more information, visit fnrpusa.com.