Continental Realty Corp. (CRC), a Baltimore-based real estate investment and management company, has acquired The Shoppes at Webb Gin, a 330,000-square-foot lifestyle center located in the Atlanta market for $97 million, from Olshan Properties.
The asset, located at 1350 Scenic Highway S. in Snellville, Ga., was 89-percent leased at the time of the transaction, and represents CRC’s fourth retail asset in Georgia. The property is anchored by Sprouts Farmers Market, DSW, Barnes & Noble, and H&M. Margaret Caldwell and Patrick Kelley of Stan Johnson Company of Atlanta represented the seller in this transaction.
The Shoppes at Webb Gin was purchased on behalf of the Continental Realty Opportunistic Retail Investment Fund I, a private equity fund focused on acquiring value-add and income-producing retail properties in targeted submarkets throughout the United States. It represents the fourth retail asset acquired by the fund, following last month’s acquisition of
