Regional power center in metro Atlanta sells

ATLANTA, July 23, 2021 – JLL Capital Markets announced today that it has closed the sale of Stonebridge Square, a 160,391-square-foot regional power center anchored by Kohl’s and Michaels in the Atlanta-area community of Roswell, Georgia.

JLL represented the seller, an affiliate of Atlanta-based RCG Ventures and a New York City-based joint venture partner. Saglo Development Corporation of Miami acquired the property. 

Home to anchor tenants Kohl’s and Michael’s, the 95-percent-leased Stonebridge Square’s tenant roster is rounded out by a diverse mix of national and regional tenants, including Mattress Firm, Redline Athletics, Nail Star, Honor Yoga, Stonebridge Cleaners, Alessio’s Restaurant & Pizzeria and Pho Roswell Restaurant.

Stonebridge Square is positioned on 18.6 acres at 620 W. Crossville Rd. in Roswell, which is a highly sought-after and desirable metro Atlanta submarket due to excellent quality of life, low cost of living, strong education systems, nationally ranked healthcare facilities and proximity to major employment centers. More than 57,000 residents who earn an average annual household income of $172,000 live within a three-mile radius of the property. Additionally, the center is visible to more than 70,000 vehicles a day which pass the intersection of West Crossville Road and Woodstock Road.

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 Kahn.

“Stonebridge Square is the third retail property the JLL Atlanta Retail Team has sold in the Roswell submarket over the past 60 days,” Hamilton said. “The area has been one of the fastest-growing submarkets in Atlanta over the past two decades and is among the most highly sought-after locations for retail investors due to the affluent demographics, high barriers to entry and business-friendly policies.

“Investor demand for retail properties significantly exceeds levels compared to before the pandemic, which is fueled by a record amount of available capital, low interest rates and improving retail fundamentals,” he continued. “For Stonebridge Square, investor interest was exceptionally strong due to the robust property and tenant fundamentals combined with the strong submarket growth.”

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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