ATLANTA—Two family lifestyle and sports-centric retail and services centers located in north metro Atlanta just traded hands. Vishal Dacula purchased Dacula Family Festival for $5.9 million and Midway Family Festival for $3.45 million.
Neal Pringle, partner, director of investment sales and finance, and the late Mark Cooley, partner, of The Shopping Center Group represented the seller, Watkins Real Estate Group, in both transactions. The retail centers span 107,000 square feet combined.
“With so many families leading active lifestyles these days, sports-centric centers are so valuable to communities because they provide needed access to retail, dining and services as well as sports related facilities in close proximity to one another, Pringle tells GlobeSt.com. “Not only does this type of connectivity promote the family unit by allowing more time to be spent together, but it also adds efficiency to busy schedules and eliminates travel to several different locations in order to accomplish various tasks.”
At 100% leased, Midway Family Festival features recreational and lifestyle tenants. The retail center was constructed in 2009 and totals 62,410 square feet on 7.63 acres along Post Road in Cumming, the county seat of Forsyth County.
Pepperoni's Pizza, Vickery Animal Hospital, 7 Tequilas Mexican Restaurant, Johns Creek Orthodontics, Eye Level Learning Center, Saturia Nails, VO2 Personal Training, Oh My Froyo, Dentistry for Children, World Championship Taekwondo, Blue Fin Sushi & Thai Grill and Monkey Joe's are among the tenants. Recreational amenities include a baseball field operated by Jason Holbrook, swimming facilities operated by Swim Atlanta and The Warehouse, a young adult ministry, and the neighboring Midway Park.
Constructed in 2008, Dacula Family Festival spans more than 54,000 square feet of retail space on 5.8 acres along Auburn Road in Dacula, GA, a city in north metro Atlanta's Gwinnett County. TEBO Dentistry for Kids, Belle Nails, Taekwondo, Green Tea Restaurant and Little Caesars are tenants in two shop buildings. Kids Up Indoor Playground + Party Center, Swim Atlanta and Jack City Sports occupy three additional buildings.
Beyond an indoor swimming pool Swim Atlanta operates, Dacula Family Festival also features a 200-foot baseball field, indoor pitching mounds and batting cages, a full-size basketball court and an indoor flag football arena operated by Jack's City Sports Center. Two new tenants, Mathnasium and Fit Body Boot Camp are slated to open in late 2016.
Beyond Atlanta, Savannah retail is heating up fast. Check out my recent exclusive column.
ATLANTA—Two family lifestyle and sports-centric retail and services centers located in north metro Atlanta just traded hands. Vishal Dacula purchased Dacula Family Festival for $5.9 million and Midway Family Festival for $3.45 million.
Neal Pringle, partner, director of investment sales and finance, and the late Mark
“With so many families leading active lifestyles these days, sports-centric centers are so valuable to communities because they provide needed access to retail, dining and services as well as sports related facilities in close proximity to one another, Pringle tells GlobeSt.com. “Not only does this type of connectivity promote the family unit by allowing more time to be spent together, but it also adds efficiency to busy schedules and eliminates travel to several different locations in order to accomplish various tasks.”
At 100% leased, Midway Family Festival features recreational and lifestyle tenants. The retail center was constructed in 2009 and totals 62,410 square feet on 7.63 acres along Post Road in Cumming, the county seat of Forsyth County.
Pepperoni's Pizza, Vickery Animal Hospital, 7 Tequilas Mexican Restaurant, Johns Creek Orthodontics, Eye Level Learning Center, Saturia Nails, VO2 Personal Training, Oh My Froyo, Dentistry for Children, World Championship Taekwondo, Blue Fin Sushi & Thai Grill and Monkey Joe's are among the tenants. Recreational amenities include a baseball field operated by Jason Holbrook, swimming facilities operated by Swim Atlanta and The Warehouse, a young adult ministry, and the neighboring Midway Park.
Constructed in 2008, Dacula Family Festival spans more than 54,000 square feet of retail space on 5.8 acres along Auburn Road in Dacula, GA, a city in north metro Atlanta's Gwinnett County. TEBO Dentistry for Kids, Belle Nails, Taekwondo, Green Tea Restaurant and Little Caesars are tenants in two shop buildings. Kids Up Indoor Playground + Party Center, Swim Atlanta and Jack City Sports occupy three additional buildings.
Beyond an indoor swimming pool Swim Atlanta operates, Dacula Family Festival also features a 200-foot baseball field, indoor pitching mounds and batting cages, a full-size basketball court and an indoor flag football arena operated by Jack's City Sports Center. Two new tenants, Mathnasium and Fit Body Boot Camp are slated to open in late 2016.
Beyond Atlanta, Savannah retail is heating up fast. Check out my recent exclusive column.
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