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ShopOne Centers REIT Enters Georgia with Acquisition of Publix-Anchored Center in Kennesaw
ShopOne Centers REIT, Inc. — grocery-anchored shopping center investment, management and operating platform — has acquired Publix-anchored Kennesaw Walk in Kennesaw, GA. ShopOne Centers REIT, Inc. acquired the asset as part of joint venture with private markets firm Pantheon and an institutional investor.
The 68,744 square-foot Kennesaw Walk is 89% occupied and has nearly 8,000 square feet of future leasing potential. In addition to the newly renovated Publix, the property houses tenants Subway, H&R Block, Supercuts and State Farm.
“Kennesaw Walk is exemplary of the type and quality of assets the joint venture is seeking to add to our portfolio,” said Chris Reed, CIO at ShopOne Centers REIT, Inc. “The property contains embedded upside potential, while clearly playing a vital role in serving the needs of the surrounding neighborhoods and communities.”
GA is the third new state the JV has entered in 2022, following VA and NC. The partnership has $1 billion of total investment capacity and features a $225 million senior credit facility.
- ◦Sale/Acquisition
