Kroger-anchored retail center in Atlanta MSA sells for $16M
JLL Capital Markets completed the sale of Main Street South Fulton located in the Atlanta MSA
ATLANTA, Sept. 29, 2021 – JLL Capital Markets announced today that it has closed the $16 million sale of Main Street South Fulton, a 100-percent occupied, 129,449-square-foot, Kroger-anchored retail center in the Atlanta-area community of South Fulton, Georgia.
JLL represented the seller, M&P Shopping Centers. Irgang Group Inc. acquired the asset.
Main Street South Fulton boasts an extremely well-tenured rent roll with notable retailers such as Kroger, Dollar Tree, Rainbow USA, Pizza Hut, Subway and benefitted from limited grocer competition in the immediate trade area. The property is located at 6055 Old National Hwy. in South Fulton on a main thoroughfare in the submarket with more than 57,000 vehicles passing by the property each day. Additionally, the center is approximately three miles south of Atlanta’s Hartsfield-Jackson International, the country’s busiest commercial airport.
The JLL Retail Capital Markets Investment Sales and Advisory team that represented the seller was led by Senior Director Brad Buchanan, Senior Managing Director Jim Hamilton and Associate Andrew Kahn. Benjamin Bruner, president of the Bruner Group, represented the buyer.
“Main Street South Fulton is a high-performing grocery-anchored asset that garnered significant interest from the investment community due to its well-tenured rent roll and strategic location less than three miles south of Atlanta’s Hartsfield-Jackson International,” Buchanan 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 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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About JLL
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 92,000 as of June 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About M&P Shopping Centers
M&P Shopping Centers is a well-known Atlanta based owner and operator of retail shopping centers. The company has over 60 years of experience and has a portfolio of over 25 retail properties throughout the Southeast. Jeremy Rosenthall and Simon Engler oversee the acquisitions and dispositions for M&P Shopping Centers.
About Irgang Group Inc.
Irgang Group is a private investment company based out of New York City that mainly focuses on commercial retail and multifamily residential projects. Mark Irgang began investing in retail in 1981 and transitioned into mixed-use and multifamily investments in 2000. The company’s holdings are primarily located in New York City, and it is actively focused on growing its presence in the northeast and sunbelt regions.