Grocery-anchored retail centers in the Atlanta MSA sell for $29m
Sedgh Group has purchased the $29 million portfolio sale of two grocery-anchored retail centers, the 144,678-square-foot Cherokee Corners in Acworth, Georgia and the 185,601-square-foot Concord Village in Smyrna, Ga.
JLL Capital Markets represented the seller, an affiliate of Hackney Real Estate Partners.
Both Cherokee Corners and Concord Village are anchored by Food Depot, a well-established regional grocer with more than 40 locations throughout Georgia and nearly 35 years of company operating history. Both grocer locations have signed a recent 10-year renewal.
Built in 1984 and renovated in 2016, the 100-percent-occupied Cherokee Corners is also anchored by Woodstock Market, Dolce Furniture and Family Dollar. Located at 5570 Bells Ferry Rd., the center sits at the intersection of Alabama Road and Bells Ferry Road, providing visibility to 60,200 vehicles per day.
The 99-percent-occupied Concord Village was built in 1988 and renovated in 2016. In additio