High-performing Publix-anchored retail center in Roswell sells for $39.11M
JLL Capital Markets closed the sale of King’s Market in the affluent Atlanta-area community
ATLANTA, Jan. 24, 2022 – JLL Capital Markets announced today that it has closed the $39.11 million sale of King’s Market, a 281,064-square-foot retail center anchored by Publix in the popular suburban Atlanta community of Roswell, Georgia.
JLL marketed the property on behalf of the seller, The Mimms Family. Brixmor Property Group purchased the asset.
King’s Market is 75-percent occupied and anchored by a high performing anchor tenant line up, including Publix, Frontgate Furniture Outlet, Sky Zone and TK Volleyball. Positioned at 1425 Market Blvd., King’s Market benefits from its strategic location on the “going home” side of Holcomb Bridge Road at the signalized intersection where Market Boulevard and Holcomb Bridge Road intersect. Additionally, the center’s accessibility is increasing with the GA-400 Express Lane project, which will provide the property with direct connection to GA-400 and its 158,000 daily travelers.
Roswell is ranked as one of the best cities to live in Georgia due to its proximity to Atlanta and strong economy. The center is surrounded by an educated, affluent residential population of 81,791 residents within a three-mile radius earning an average annual household income of $116,844.
The JLL Retail Capital Markets Investment Sales and Advisory team representing the seller was led by Senior Managing Director Jim Hamilton, Managing Director Brad Buchanan and Associate Andrew Michols.
“King’s Market is a high-performing, grocery-anchored asset with significant value-add potential in one of the most sought-after submarkets throughout the Southeast,” Hamilton noted. “Investor interest into the grocery-anchored sector continues to increase, driving record pricing and some of the deepest and most diverse buyer pools that we have seen in years.”
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 and sales 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 The Mimms Family
The Mimms Family is a fourth-generation family-owned commercial real estate investment company based in Roswell, Georgia. The company specializes in the acquisition, construction, redevelopment, leasing and management of retail, industrial and office properties. Their portfolios total nearly 7 million square feet in the Metro Atlanta and spread around the Southeast.
About Brixmor Property Group
Brixmor (NYSE: BRX) is a real estate investment trust (REIT) that owns and operates a high-quality, national portfolio of open-air shopping centers. Its 386 retail centers comprise approximately 68 million square feet of prime retail space in established trade areas. The company strives to own and operate shopping centers that reflect Brixmor's vision "to be the center of the communities we serve" and are home to a diverse mix of thriving national, regional and local retailers. Brixmor is a proud real estate partner to approximately 5,000 retailers including The TJX Companies, The Kroger Co., Publix Super Markets and Ross Stores.