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Publix-Anchored Center Trades in Atlanta Suburb
Essential Growth Properties acquired Mulberry Village in Mulberry, Georgia, just outside Atlanta. The 75,000-square-foot shopping center at 831 Auburn was sold for $13.4 million. JLL represented the seller, Watkins Real Estate Group, in the transaction.
Built in 2008, Mulberry Village encompasses 17.1 acres and is anchored by Publix. The shopping center maintains a 94% occupancy rate. The property includes four undeveloped outparcels that present additional opportunities for future ownership.
The shopping center benefits from its location at the intersection of Auburn Road and Fence Road (which sees over 32,000 vehicles per day combined), along with two points of ingress and egress. The surrounding trade area features exceptionally strong demographics with average household incomes exceeding $135,000 within three miles and rapid residential growth, including more than 2,500 homes currently under construction or recently delivered nearby.
The JLL Capital Markets team representing the seller included Jim Hamilton, Brad Buchanan, Andrew Michols and Charlie Merrigan.
- ◦Sale/Acquisition
