JLL announces sale of The Shops Buckhead Atlanta
JLL brokered the sale of the mixed-use retail and creative office project in Atlanta to Jamestown.
ATLANTA, July 18, 2019 – JLL announces that it has closed the sale of The Shops Buckhead Atlanta, a 355,646-square-foot mixed-use project with best-in-class retail and creative office space in Atlanta’s Buckhead submarket.
JLL marketed the property on behalf of the seller, an institutional joint venture. Jamestown purchased the asset.
Completed in 2014, The Shops Buckhead Atlanta is leased to a variety of highly notable luxury and upscale shops, restaurants, entertainment and fitness tenants. The office space is fully leased to two tenants, Spanx’s global headquarters and No18, the first U.S. co-working location. Additionally, the property includes two prime development sites totaling 2.7 acres.
Surrounded by Atlanta’s most affluent neighborhoods and Buckhead’s thriving office market, The Shops Buckhead Atlanta’s location at 3035 Peachtree Road is strategically positioned north of downtown along Atlanta’s most prestigious address. The area has earned a WalkScore ® of 93, which is higher than any other location in Atlanta. The property serves the top demographics in the Southeast – 65,000 households earning an average annual household income of approximately $142,000 are within a three-mile radius.
The JLL Capital Markets team representing the seller was led by senior managing directors Richard Reid, Trey Morsbach, Barry Brown and Jim Hamilton and director Mike Allison. Coleman Morris, JLL director of Retail Agency Leasing, provided retail and leasing guidance to the seller.
“The irreplaceable location, demographic fundamentals and best-in-class construction position The Shops Buckhead Atlanta for long-term success with the ability to attract top local, national and international tenant prospects,” Reid said.
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 a sale, financing, repositioning, advisory or recapitalization execution. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 91,000 as of March 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
Jamestown was established in 1983 as an investment and management company focused on income-producing real estate in the United States. Over the last 35+ years, Jamestown has grown its portfolio of assets in key markets throughout the U.S. and expanded its investment footprint to South America and Europe. Jamestown's capabilities include: acquisitions, capital markets, property management, asset management, retail leasing, design, sustainability, and risk management. Jamestown has headquarters in Atlanta, Georgia, and Cologne, Germany, and offices in New York, New York; Boston, Massachusetts; San Francisco, California; Los Angeles, California; and Bogota, Colombia. For more information, visit www.jamestownlp.com.