ATLANTA—The retail market is evolving, but that doesn't mean lenders are fleeing. Castleberry Southard, a dominant 80,018-square-foot, Publix-anchored neighborhood retail center in the affluent Atlanta submarket of Cumming GA, won the confidence of investors.
HFF secured $11.5 million in acquisition financing for ownership against the retail property. HFF worked on behalf of the borrower, New Market – Castleberry, a wholly-owned subsidiary of New Market Properties, LLC, to place the 10-year, fixed-rate financing with Principal Global Investors. The HFF debt placement team representing the borrowers was led by senior managing director Ed Coco and associate Matt Casey.
“The pace of growth and residential development in the immediate area will only benefit the property and enhance the investment in the years to come,” says Coco. HFF brokered the sale of this property to the borrower in a previously announced transaction.
Located at 5475 Bethelview Road in Cumming, Castleberry Southard sits 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% leased to a variety of tenants, including Publix, The UPS Store, Subway, H&R Block and Huntington Learning Center.
Shopping malls are struggling while experiential retail is rising. Strip centers are evolving and e-commerce is pressing retailers to think differently. (Some experts say this retail sector is especially safe.)
Who will the winners be? That depends on whom you ask. We asked Terry Montesi, CEO of Trademark Property and Karim Fadel, founder and principal at Unison Realty Partners.
“The winners in retail real estate will be the people who are looking forward and abandoning virtually every paradigm from the past,” Montesi tells GlobeSt.com. “The rate of change in retail real estate is much
ATLANTA—The retail market is evolving, but that doesn't mean lenders are fleeing. Castleberry Southard, a dominant 80,018-square-foot, Publix-anchored neighborhood retail center in the affluent Atlanta submarket of Cumming GA, won the confidence of investors.
HFF secured $11.5 million in acquisition financing for ownership against the retail property. HFF worked on behalf of the borrower, New Market – Castleberry, a wholly-owned subsidiary of New Market Properties, LLC, to place the 10-year, fixed-rate financing with Principal Global Investors. The HFF debt placement team representing the borrowers was led by senior managing director Ed Coco and associate Matt Casey.
“The pace of growth and residential development in the immediate area will only benefit the property and enhance the investment in the years to come,” says Coco. HFF brokered the sale of this property to the borrower in a previously announced transaction.
Located at 5475 Bethelview Road in Cumming, Castleberry Southard sits 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% leased to a variety of tenants, including Publix, The UPS Store, Subway, H&R Block and Huntington Learning Center.
Shopping malls are struggling while experiential retail is rising. Strip centers are evolving and e-commerce is pressing retailers to think differently. (Some experts say this retail sector is especially safe.)
Who will the winners be? That depends on whom you ask. We asked Terry Montesi, CEO of Trademark Property and Karim Fadel, founder and principal at Unison Realty Partners.
“The winners in retail real estate will be the people who are looking forward and abandoning virtually every paradigm from the past,” Montesi tells GlobeSt.com. “The rate of change in retail real estate is much
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