Kroger-anchored retail center near Atlanta trades for $20.75M
JLL Capital Markets completed the sale of the property located in Roswell, GA, one of the most sought-after submarket in the Atlanta MSA
ATLANTA, July 12, 2021 – JLL Capital Markets announced today that it has closed the $20.75 million sale of Coleman Village, a 90,981-square-foot shopping center anchored by Kroger in the suburban Atlanta community of Roswell, Georgia.
Coleman Village was 97 percent occupied and anchored by Kroger, the largest supermarket chain in the country. The remainder of the tenancy was comprised of a durable mix of national and regional service and restaurant tenants, including Starbucks, El Porton Mexican Restaurant, Attitude Fitness, Mavis Tire and more.
Situated on 12.23 acres at 800 Marietta Hwy., Coleman Village is in Roswell, which is considered the most institutionally owned and highly sought-after submarket in the Atlanta MSA. The retail center serves an extremely affluent trade area with over 70,600 residents with in a three-mile radius with an average annual household income of more than $137,971.
The JLL Capital Markets Investment Sales Advisory team that represented the seller was led by Senior Managing Director Jim Hamilton, Senior Director Brad Buchanan and Associate Andrew Michols.
“Coleman Village received strong interest from a wide variety of capital sources ranging from institutions, REIT’s, private and foreign investors,” Hamilton said. “Investors were attracted to the property due to the affluent demographics, high barriers to entry, strong rent collections and recent long-term renewals from several key tenants.”
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 advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 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 91,000 as of March 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Principal Real Estate Investors
Principal Real Estate Investors manages or sub-advises $90.3 billion in commercial real estate assets (as of March 31, 2021). The firm's real estate capabilities include both public and private equity and debt investment alternatives. Principal Real Estate Investors is the dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®.
About The Georgetown Company
Founded in 1978, The Georgetown Company is a privately held diversified real estate company led by CEO Adam Flatto. Headquartered in New York, Georgetown has offices in Columbus, Ohio; Washington, D.C.; Atlanta, Georgia; and Los Angeles, California. Over its 40+ year history, Georgetown and its principals have developed, owned and overseen in excess of 25 million square feet of office, residential, retail and recreational properties and currently control assets with a value of over $3 billion.