X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MACON, GA-New York City-based Time Equities Inc. has acquired the 87,194-sf Summit at the Mall shopping center at 3755 Bloomfield Dr. for $8.45 million. The property is located at the corner of Bloomfield Drive and Mercer University Drive across from the Colonial Mall.

“Summit is located in a high-traffic retail district and we are pleased to expand our portfolio to the Macon area,” says Ashish Dua, Time Equities acquisition director. Dua and Jeff Rosenblum, also acquisition director at Time Equities, repped the company. Drew Fleming, of Alpharetta-based Shane Investment Property Group LLC, represented the seller.

The shopping center is 94% occupied and currently has 6,450 sf available for lease. Tenants include Big Lots, Olive Garden and Hancock Fabrics. Rents range from $12 to $15 per sf NNN.

The Colonial Mall is one of Georgia’s largest enclosed shopping malls and is anchored by Belk Matthews, Rich’s, J.C. Penney, Sears, Parisian, and Dillard’s. It features more than 200 specialty shops, 30 eateries in the food court, and a family entertainment center.

“Proximity to a major shopping center is a major draw for Summit creating a shopping destination for Macon residents,” Rosenblum says. “We will continue to seek properties in strong markets like Macon.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.