HFF closes sale of Publix-anchored retail center in the Atlanta MSA
ATLANTA, GA – April 27, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Castleberry Southard, a dominant 80,018-square-foot, Publix-anchored neighborhood retail center in the affluent Atlanta submarket of Cumming, Georgia.
HFF marketed the property for the seller, TA Realty. New Market Properties, LLC, purchased the asset free and clear of existing debt.
Located at 5475 Bethelview Road in Cumming, Castleberry Southard is situated at the “main and main” intersection of Castleberry and Bethelview Roads in one of the most affluent and fastest-growing submarkets in the Atlanta area. More than 38,000 residents earning an average annual income of more than $110,000 live within a three-mile radius of the center. Built in 2006, Castleberry Southard is 92 percent leased to a variety of tenants, including Publix, The UPS Store, Subway, H&R Block and Huntington Learning Center.
The HFF investment sales team representing the seller was led by senior managing directors Jim Hamilton and Richard Reid and associates Mike Allison and Brad Buchanan.
“Castleberry Southard represented a rare opportunity to acquire a dominant Publix-anchored shopping center in one of the most affluent and fastest growing suburbs of the Atlanta MSA,” Hamilton said.
About TA Realty
TA Realty is focused exclusively on private real estate investment in the United States. Since 1982, the firm has acquired, invested and/or managed $26.1 billion of real estate through a series of value-added, commingled funds and customized core separate accounts. As of June 30, 2016, gross assets under management were valued at $11.4 billion, comprised of 65.2 million square feet of commercial (industrial, office, retail) real estate and over 10,100 multifamily units. Learn more at tarealty.com.
About New Market Properties
New Market Properties, LLC (New Market), based in Atlanta, Georgia, is a wholly-owned indirect subsidiary of Preferred Apartment Communities, Inc. (NYSE: APTS), and is focused on the grocery anchored retail shopping center sector. New Market currently owns and operates a portfolio of 32 grocery anchored shopping centers in seven Sunbelt states, and its strategy is to aggressively grow this existing portfolio in the Mid-Atlantic, Southeast, Florida and out through Texas. Learn more at newmarketprop.com.
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). 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. For more information please visit hfflp.com or follow HFF on Twitter @HFF.