By Wilbert News Strategies
ATLANTA (Feb. 28, 2011) – Carter said today it has brokered the sale of the Oglethorpe Crossing shopping center just north of Atlanta.
Carter’s Retail Investment Sales Group negotiated the sale of the Publix-anchored center at 3435 Ashford-Dunwoody Road on behalf of seller REES 52 LLC of Atlanta. An Atlanta-based private equity group paid an undisclosed amount for the 58,000-square-foot center.
The shopping center was 98 percent leased at the time of the sale. In addition to Publix, CVS/Pharmacy is a co-anchor tenant.
Carter’s Retail Investment Sales Group, led by Drew Fleming and Mark Joines, noted the strong and continued investor appetite for grocery-anchored centers.
“Investors are desperately seeking well-located grocery anchored shopping centers with credit tenants such as Publix and CVS,” Joines said. “We don’t expect the demand for these types of centers to wane any time soon.”