Atlanta-area Kroger-anchored retail center closed by HFF
ATLANTA, GA – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Royal Lakes Marketplace, a 119,493-square-foot, Kroger-anchored neighborhood shopping center in the Atlanta suburb of Oakwood, Georgia.
HFF marketed the property on behalf of the seller, Madison Retail LLC. Preferred Apartment Communities, Inc. (NYSE: APTS), through is retail subsidiary New Market Properties LLC, purchased the asset free and clear of existing debt.
Situated on approximately 20.7 acres in Oakwood, part of the Atlanta MSA, Royal Lakes Marketplace is located at the intersection of Winder Highway (SR 53) and Sloan Mill Road adjacent to the Royal Lakes Golf and Country Club. Completed in 2008, the property is anchored by Kroger, which has a strong remaining lease term and is ranked by the Shelby Report as Atlanta’s No. 1 neighborhood grocer. Additionally, Royal Lakes Marketplace is less than 50 miles from downtown Atlanta’s business and cultural offerings due to the center’s access to Interstates 85 and 985.
The HFF team representing the seller was led by senior managing directors Jim Hamilton and Richard Reid.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.