TSCG Sells North Metro Town's Sole Kroger-Anchored Center
The 30,000-square foot center includes three buildings shadow-anchored by a 69,000-square foot Kroger with a fuel station.
JEFFERSON, GA—The Shopping Center Group arranged the sale of The Shops at Loggin’s Corners in Jefferson, GA, along the high-growth Interstate 85 corridor northeast of Atlanta. The firm represented Loggins Corners 12 in the sale of the property to PWRE2 Loggins, an affiliate of Pacific West Land. The transaction was worth an estimated $5.1 million, according to Real Capital Analytics, a proprietary research database.
“The Shops at Loggin’s Corners is 100% leased with national, internet-resistant names such as Great Clips, Verizon Wireless, Little Caesar’s Pizza, Northeast Georgia Physicians Group, Beef O’Brady’s and H&R Block,” says Neal Pringle, CCIM, partner, director of investment sales and finance, The Shopping Center Group. Built in 2006, the center is located on 4.7 acres at 1689 Old Pendergrass Road, three miles south of Interstate 85 at the Jefferson Bypass/US Highway 129. The 30,000-square foot center includes three buildings shadow-anchored by a 69,000-square foot Kroger with fuel station (not included in the transaction), the only national grocer in the trade area.
“The Shops at Loggin’s Corners benefits from great visibility and street frontage along US Highway 129 that sees an average of 22,000 vehicles daily,” says Pringle, who facilitated the sale along with Adam Birnbrey, investment sales analyst. “Jefferson is an industrial hub supporting a large influx of residents hungry for more quality retail. In addition to the residential growth, the recently announced Amazon fulfillment center will add nearly 1,100 people to Jefferson’s daytime population when completed.”
Jefferson is the county seat of Jackson County with a population of nearly 65,000. It’s home to several national production and warehouse facilities including Amazon, Whole Foods, HomeGoods, Aldi, Toyota, Bed Bath & Beyond and Williams-Sonoma.