Northlake Square has sold Northlake Square, a 82,578-square-foot retail center located in the Atlanta MSA in Tucker, Ga., for $17.3 million.
JLL represented the seller and owner, Northlake Square, and the property manager, Barnhart Commercial Management. Greenberg Gibbons acquired the asset.
Constructed in 1988, Northlake Square is 98 percent occupied with a diverse mix of national and local retailers and anchored by ALDI, Best Buy and Mellow Mushroom. The offering presented investors with significant income security, nearly 20 years of average tenure, and upside potential via several mark-to-market opportunities.
