Sale of core grocery-anchored shopping center in Atlanta closes
JLL Capital Markets arranged the sale of the 74,370-square-foot Roswell-Wieuca Shopping Center located in the prestigious Buckhead neighborhood of Atlanta, Georgia
ATLANTA, April 18, 2023 – JLL Capital Markets announced today that it has closed the sale of the Roswell-Wieuca, a 74,370-sqaure-foot, grocery-anchored shopping center located within the prestigious Buckhead neighborhood of Atlanta, Georgia.
JLL represented the seller, and Nuveen Real Estate acquired the asset.
Roswell-Wieuca Shopping Center was 98-percent-occupied at the time of sale and anchored by the most visited Fresh Market location in the Atlanta MSA. Notable tenants also include Ace Hardware, Gusto!, Chicken Salad Chick and Willy’s Mexicana Grill. The property features a weighted average tenure of 14.3 years, and 100% of the tenancy represents a nationally recognized brand.
Situated at 4365 Roswell Rd. at the gateway of Chastain Park, Roswell-Wieuca Shopping Center is located one mile north of the heart of Buckhead, Atlanta’s preeminent financial district and one of its most prestigious neighborhoods in the entire MSA. The property benefits from strong traffic counts with 38,120 vehicles passing per day along Roswell Road and extremely impressive demographics with an average household income of over $215K within a one-mile radius.
The JLL team that represented the seller was led by Senior Managing Director Jim Hamilton, Managing Director Brad Buchanan and Associate Andrew Michols.
"Demand for high-quality retail centers remains exceptionally strong, especially for grocery-anchored opportunities,” said Hamilton. “Roswell-Wieuca Shopping Center was one of the most highly sought-after grocery-anchored centers that we’ve marketed in the past five years due to the infill location, high-income demographics and significant cash flow growth potential.”
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 and sales 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.
For more news, videos and research resources on JLL, please visit our newsroom.
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 $20.9 billion, operations in over 80 countries and a global workforce of more than 103,000 as of December 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Nuveen Real Estate
Nuveen Real Estate is one of the largest investment managers in the world with $155 billion of assets under management.
Managing a suite of funds and mandates, across both public and private investments, and spanning both debt and equity across diverse geographies and investment styles, we provide access to every aspect of real estate investing.
With over 85 years of real estate investing experience and more than 775 employees* located across 30+ cities throughout the United States, Europe and Asia Pacific, the platform offers unparalleled geographic reach, which is married with deep sector expertise.
For further information, please visit us at nuveen.com/realestate
*Includes 385+ real estate investment professionals, supported by a further 390+ Nuveen employees.
Source: Nuveen, 31 Dec 2022.