ATLANTA—Bethesda Walk, a Walmart Neighborhood Market-anchored retail center in Atlanta's Lawrenceville submarket, has a new owner. Connecticut-based Solon Mack Real Estate purchased the 68,271-square-foot shopping center from DLC Management Corporation.
Jones Lang LaSalle's Capital Markets represented the seller. JLL managing directors Margaret Caldwell and Kris Cooper led the JLL team on the trade.
“This was the first Walmart Neighborhood Market in the Atlanta area,” Caldwell tells GlobeSt.com. “Grocery-anchored shopping centers remain in strong demand by all types of retail investors.”
Bethesda Walk is located at the intersection of Lawrenceville Highway and Bethesda School Road in the Lawrenceville submarket of Atlanta. A 44,271-square-foot Walmart Neighborhood Market is the centerpiece of the shopping center, which opened in mid-2012.
“It's not very common to see Walmart as part of the owned space,” Caldwell says. “This attracts lots of great investors due to Walmart's credit and in this case a long-term lease. The properties that compete within a four-plus mile radius are 97% leased on average. Other grocers in the market are Walmart Supercenter, Kroger, and Publix. It is a very healthy market with 92,000 people in a three-mile radius.”
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