AEW Buys Fully Leased Woodlawn Point for $16M

ATLANTA-Boston-based AEW Capital Management has bought the 97,899-sf, fully leased Woodlawn Point shopping center in affluent East Cobb County from San Francisco-based ABM Property Corp. for an unidentified client.

AEW refused to disclose the price. But area brokers tell GlobeSt.com on condition of anonymity it was in excess of $15.7 million or between $160 per sf and $163 per sf.

The center at 1100 Johnson Ferry Road is 100% leased and anchored by a Publix supermarket. It was completed in 1993. The average asking rental rate, excluding Publix, brokers tell GlobeSt.com is $20 per sf.

Kris J. Cooper, senior director, and Margaret Caldwell of the locally based office of Cushman & Wakefield of Georgia represented ABM.

“The significant investor interest in this property confirms the strength of this retail property and the strong institutional demand for grocery-anchored shopping centers in Atlanta,” Cooper says in a printed statement.