High-performing Kroger-anchored shopping center in metro Atlanta sold
JLL Capital Markets closed the $20M sale of the Kroger-anchored Cofer Crossing in Tucker, Georgia
ATLANTA, May 3, 2021 – JLL Capital Markets announced today that it has closed the $20 million sale of Cofer Crossing, a fully leased 136,139-square-foot shopping center anchored by Kroger and HomeGoods in the Atlanta-area community of Tucker, Georgia.
JLL marketed the property on behalf of the seller, a partnership between SITE Centers Corp. and Madison International Realty. A private buyer based in Ontario, California, acquired the asset in a 1031 exchange.
Cofer Crossing is anchored by Kroger, Georgia’s most dominant grocer and the fifth largest retailer in the world. With more than 1.1 million annual visitors in the last year, the center is the No. 1 most-visited shopping center within five miles. The fully leased property is also home to notable tenants HomeGoods, Dollar Tree and a line-up of national and regional tenants that have performed exceptionally over the past 12 months. Cofer Crossing is shadowed by the world’s largest discount retailer, and Kroger recently acquired a former Shell Station located at the entrance of Cofer Crossing, which has since been renovated into a new Kroger Fuel Center and reflects Kroger’s commitment to the property.
Cofer Crossing is situated on a 16.51-acre parcel at 4367 Lawrenceville Hwy. proximate to two of Atlanta’s primary travel corridors, providing easy access and a steady flow of customers to the center. Tucker is less than 15 miles northeast of downtown Atlanta, and nearly 85,000 residents live within a three-mile radius of the property.
The JLL Retail Capital Markets team that represented the seller was led by Senior Managing Director Jim Hamilton, Senior Director Brad Buchanan and Associate Taylor Callaway.
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 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, operations in over 80 countries and a global workforce of more than 91,000 as of December 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About SITE Centers Corp.
SITE Centers is an owner and manager of open-air shopping centers located in suburban, high household income communities. The company is a self-administered and self-managed REIT operating as a fully integrated real estate company and is publicly traded on the New York Stock Exchange under the ticker symbol SITC. Additional information about the company is available at sitecenters.com. To be included in the company’s e-mail distributions for press releases and other investor news, please click here.
About Madison International Realty
Madison International Realty (madisonint.com) is a leading liquidity provider to real estate investors worldwide. Madison provides equity capital for real estate owners and investors seeking to monetize embedded equity, to replace capital partners seeking an exit and to recapitalize balance sheets. The firm provides equity for recapitalizations, partner buyouts and capital infusions; and acquires joint venture, limited partner and co-investment interests as principals. Madison invests in secondary transactions and focuses on existing properties and portfolios in the U.S., U.K., and Europe. Madison has offices in New York, London, Luxembourg, Amsterdam and Frankfurt, where the firm operates under the name of Madison International Realty GmbH.