ATLANTA-Atlanta submarkets are seeing their fair share of retail deals as the fourth quarter begins to wind down. The next retail asset to trade could be Statesboro Square Shopping Center in Statesboro.
Cassidy Turley vice presidents Drew Fleming and Mark Joines are marketing the center. Anchored by Big Lots and Rentown, the 41,000-square foot center is debt free and 97% occupied. The shopping center’s tenants also include Peebles, Goodwill, Dollar General, and USA Discounters.
“The seller wants to return capital to its investors,” Joines tells GlobeSt.com. “We expect the relatively low price point and Big Lots credit to attract private equity and local buyers.”
Joines says the center’s high occupancy level and stable cash flow should make it an attractive investment opportunity for local investors. He also considers the location adjacent to Statesboro High School an appealing characteristic of the property because students and residents shop there.
“Statesboro is considered a very stable market due to Georgia Southern University,” Joines says. “And Statesboro High School just built their campus across the street.”
Retail trading is heating up in the Atlanta market. Philips Edison bought a Publix-anchored shopping center in the Tyrone submarket. Colony Square in Midtown could soon trade as Tishman Speyer’s loans are close to default. And last month a Walmart Supercenter and Sam’s traded for $32.8 million to a private REIT.
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