Carter Sells Publix Anchored Shopping Center in North Atlanta

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.

Publix

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.”

Leave a Reply

Your email address will not be published.