AEW refused to disclose the price. But area brokers tell GlobeSt.com on condition of anonymity it was in excess of $15.7 million or between $160 per sf and $163 per sf.
The center at 1100 Johnson Ferry Road is 100% leased and anchored by a Publix supermarket. It was completed in 1993. The average asking rental rate, excluding Publix, brokers tell GlobeSt.com is $20 per sf.
Kris J. Cooper, senior director, and Margaret Caldwell of the locally based office of Cushman & Wakefield of Georgia represented ABM.
"The significant investor interest in this property confirms the strength of this retail property and the strong institutional demand for grocery-anchored shopping centers in Atlanta," Cooper says in a printed statement.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
