News release

Super-regional Atlanta retail center sells for $82M

JLL Capital Markets closed the sale of the 465,993-SF retail destination in Conyers

May 05, 2022

Kimberly Steele

Occupier PR
+1 713 852 3420

ATLANTA, May 5, 2022 – JLL Capital Markets announced today that it has closed the $82 million sale of Conyers Crossroads, a 465,993-square-foot super-regional retail destination center with a selection of popular national anchor tenants in the Atlanta-area community of Conyers, Georgia.

JLL marketed the property on behalf of the seller, a joint venture between Hendon Properties and Harbert Management Corporation. Serota Properties acquired the asset.

Conyers Crossroads is 100 percent leased to a well-tenured and loyal tenant base with massive drawing power that includes anchors Kohl’s, Belk, AMC, T.J.Maxx, Best Buy, HomeGoods, Michaels, Old Navy, Five Below and Shoe Carnival. The Property features a high-performing rent roll with many Tenants performing at or near the top of their districts generating exceptional, record-setting sales volume. Conyers Crossroads center was completed in two phases between 2000 and 2005 and boasts a high historical occupancy averaging 97% over the last 10 years.

Spanning 47.3 acres at 1454 Dogwood Dr. SE, Conyers Crossroads is in an established and dense retail corridor that dominates for more than 100 miles. This position 20 miles from downtown Atlanta has a super-regional draw and connectivity due to its proximity to Interstate 20, leading the center to being one of the most visited retail centers in the state and logging more than 3.7 million annual visitors.

The JLL Retail Capital Markets Investment Sales and Advisory team representing the seller was led by Senior Managing Director Jim Hamilton, Managing Director Brad Buchanan and Associate Taylor Callaway.

“Investor interest was very strong for Conyers Crossroads, given the exceptional tenant performance, super-regional drawing power and prime location adjacent to Interstate 20 with direct connectivity to Downtown Atlanta,” Hamilton said. “There continues to be a record amount of capital pursuing retail investments due to the yield premium compared to other asset classes, which is a theme that has carried over from 2021.”

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.

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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 $19.4 billion, operations in over 80 countries and a global workforce of more than 98,000 as of December 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About Hendon Properties

Hendon Properties is a full-service development, brokerage and management organization specializing in retail-oriented real estate. The company focuses on community and regional shopping centers, malls and credit tenant build-to-suit developments. The Hendon Properties team manages all aspects of brokerage and development including site selection, project budgeting, due diligence, engineering, architecture, construction and leasing.

About Harbert Management Corporation

Harbert United States Real Estate Fund V, L.P. is a fund sponsored by Harbert Management Corporation (“HMC”), an investment management firm focusing on alternative assets, with approximately $7.7 billion in Regulatory Assets Under Management as of March 31, 2022.  A privately owned firm founded in 1993, HMC serves foundations, endowments, fund of funds, pension funds, financial institutions, insurance companies, family offices, and high net worth individuals across multiple asset classes. Investment strategies include U.S. and European real estate, seniors housing, U.S. growth capital, credit solutions, infrastructure, and absolute return funds.

About Serota Properties

For over 50 years, Serota Properties has been a developer of first-class retail, office and residential property in the greater New York metropolitan area. Founded by Nathan L. Serota, in 1952, the company initially began as a builder of residential homes. However, since that initial group of homes built in Seaford L.I. was completed over five decades ago, Serota Properties has evolved into a full service real estate company. Today, Serota Properties specializes in the management and development of a complete commercial property portfolio that runs across multiple property types. A seasoned team of real estate professionals are focused on the continued growth and expansion of its founder’s original vision of excellence.