"Summit is located in a high-traffic retail district and we are pleased to expand our portfolio to the Macon area," says Ashish Dua, Time Equities acquisition director. Dua and Jeff Rosenblum, also acquisition director at Time Equities, repped the company. Drew Fleming, of Alpharetta-based Shane Investment Property Group LLC, represented the seller.
The shopping center is 94% occupied and currently has 6,450 sf available for lease. Tenants include Big Lots, Olive Garden and Hancock Fabrics. Rents range from $12 to $15 per sf NNN.
The Colonial Mall is one of Georgia's largest enclosed shopping malls and is anchored by Belk Matthews, Rich's, J.C. Penney, Sears, Parisian, and Dillard's. It features more than 200 specialty shops, 30 eateries in the food court, and a family entertainment center.
"Proximity to a major shopping center is a major draw for Summit creating a shopping destination for Macon residents," Rosenblum says. "We will continue to seek properties in strong markets like Macon."
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