"Cobb County's residential and retail markets are still sky-rocketing, making it an excellent area for added retail," says Premis Equity Partners president Jay Parekh.
Development Advisory Group founders Mark Feinberg and Brian Garrison, along with team member Colby Green, represented the developers. The parcels were owned by three private owners and two public owners, the Department of Transportation and Colonial Pipeline.
Feinberg tells GlobeSt.com that the developers began considering a retail development for the area after learning that a Wal-Mart was going to be constructed in the area. The new shopping center will have restaurant and other tenants complementary to Wal-Mart. The new center will be located five miles north of Interstate 20.
Areas in Cobb County, such as Smyrna and Marietta, have long been a hotbed of retail activity. But, in recent months, areas such as Powder Springs and Mableton, have been seeing more activity. "Even with the slowdown in the residential market, retail development in Cobb County has been very strong," he says. "There's probably an excess of 250,000 sf of retail under development."
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