Atlanta & Southeast News In Your Inbox
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Serota Properties Acquires $82M, 100% Leased Power Center in Conyers
JLL has closed the $82-million sale of Conyers Crossroads, a 465,993-square-foot super-regional retail destination center in the Atlanta-area community of Conyers, GA.
Jim Hamilton, Brad Buchanan and Taylor Callaway of JLL represented the seller, a joint venture between Hendon Properties and Harbert Management Corporation. Serota Properties acquired the asset.
“There continues to be a record amount of capital pursuing retail investments due to the yield premium compared to other asset classes, which is a theme that has carried over from 2021,” said Hamilton.
Conyers Crossroads is 100% leased to tenants including Kohl’s, Belk, AMC, T.J.Maxx, Best Buy, HomeGoods, Michaels, Old Navy, Five Below and Shoe Carnival. The property features a high-performing rent roll with many tenants performing at or near the top of their districts’ sales volume. The 47.3-acre Conyers Crossroads was completed in two phases between 2000 and 2005 and boasts a high historical occupancy averaging 97% over the last 10 years.
- ◦Sale/Acquisition
