ATLANTA—Some saw risk, but one REIT saw an opportunity in a triple net leased Kroger supermarket. The Marrietta, GA triple net retail asset traded for $3.6 million, or $79 a foot.

Colliers International senior vice president Joe Montgomery and vice president Tony D’Ambrosio in the firm’s Southeast Retail Investment Sales Group represented the seller in the transaction. The seller was Australian REIT and institutional advisor Charter Hall. The buyer, Branch Properties represented itself in the purchase.

“Charter Hall is in the final stages of selling its US retail properties and was a committed seller, while Branch Properties is a well-capitalized and opportunity-oriented investor,” says Montgomery. “The buyer saw the upside of purchasing a well-located Kroger store with strong sales where other casual investors saw mostly risk. Thanks to the relationship between the buyer and seller on previous transactions, this sale took only 60 days to complete.”

The 45,528-square-foot freestanding building is in the East Cobb section of metro Atlanta.  Located at 1122 Powers Ferry Road and built in 1983, the property is 100% leased to The Kroger Co. Kroger recently invested in interior and exterior upgrades to the property.

Colliers says the triple net leased property benefits from a high-traffic location at Powers Ferry and Delk Roads as well as from affluent East Cobb demographics, which include a $67,736 average household income within one mile and $91,757 average household income within five miles. There are 16,452 residents within one mile and 197,041 residents within five miles of the property, according to the 2012 census estimates.