(Read more on the TIC market.)
ATLANTA-A San Diego-based private TIC group of investors has acquired the 98,785-sf Windy Hill Village shopping center on Windy Hill Road one block east of the corner of Cobb Parkway for $10.6 million.
The seller was Windy Hill Shopping Center LLC, and entity associated with Norcross-based Safeway Group. The seller was represented by Alpharetta-based Shane Investment Property Group vice president Jeff Enck.
The property was delivered free and clear of debt with an existing Wells Fargo loan defeased by seller. The shopping center was acquired at an 8.25% cap rate.
The center was 98% leased at the time of the sale with tenants including Lincoln Technical Institute and the corporate headquarters of Foot Solutions. The center was originally anchored by Uptons, whose space was split to accommodate Lincoln Tech and Foot Solutions.
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