HFF announces $9.75M sale of Publix-anchored shopping center in Atlanta MSA
ATLANTA, GA – September 11, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $9.75 million sale of Duluth Station Shopping Center, a 94,966-square-foot, Publix-anchored neighborhood shopping center in the Atlanta-area suburb of Duluth, Georgia.
The HFF team marketed the property for the seller, Forge Capital Partners. Slate Retail REIT purchased the asset.
Located at 2750 Buford Highway, Duluth Station Shopping Center is on the “going home” side of a major four-lane artery that stretches through downtown Atlanta, which is 27 miles southwest of the property. More than 65,900 residents earning an average annual household income of approximately $96,765 live within a three-mile radius of the center. Duluth Station Shopping Center is 81 percent leased to a variety of tenants, including Publix, Kumon Math & Reading, Great Clips, H&R Block, St. Vincent de Paul, Panda Garden and Grand Tire.
The HFF investment sales team representing the seller included senior managing directors Jim Hamilton and Richard Reid and associates Mike Allison and Brad Buchanan.
“Duluth Station represented a rare opportunity to acquire a dominant, high-performing Publix-anchored shopping center in one of the fastest-growing and affluent submarkets of the Atlanta MSA,” Hamilton said.
About Forge Capital Partners
Forge Capital Partners is a diversified, commercial real estate investment and investment management company. The company carries out its business strategy by sponsoring real estate-oriented private equity funds and through an affiliated group of companies, which include: Forge Capital Management, Forge Property Management, Forge Development Group and Forge Real Estate Services. Since 2000, Forge and its principals have successfully sponsored four real estate-oriented, closed-end private equity funds, investing over $700 million of capital. Learn more at forgecapitalpartners.com.
About Slate Retail REIT (TSX: SRT.U / SRT.UN)
Slate Retail REIT is a real estate investment trust focused on U.S. grocery-anchored real estate. The REIT owns and operates over U.S. $1 billion of assets located across the top 50 U.S. metro markets that are visited regularly by consumers for their everyday needs. The REIT’s conservative payout ratio, together with its diversified portfolio and quality tenant covenants, provides a strong basis to continue to grow unitholder distributions and the flexibility to capitalize on opportunities that drive value appreciation. Visit slateretailreit.com to learn more about the REIT.
HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). For more information please visit hfflp.com or follow HFF on Twitter @HFF.