$1B ShopOne Centers REIT JV Targets Atlanta with Second Retail Acquisition
ShopOne Centers REIT, Inc. and joint venture partners Pantheon and an institutional investor have acquired the Bethesda Walk retail complex in the Atlanta submarket of Lawrenceville, GA.
The acquisition is the second buy of an Atlanta grocery-anchored shopping center since December 2022 for the JV, which has more than $1 billion of total investment capacity and features a $225 million senior credit facility.
“GA, and the Atlanta MSA in particular, is thriving both fundamentally and economically, and we are thrilled to further solidify our presence in the Peach State with the acquisition of Bethesda Walk,” stated Chris Reed, CIO at ShopOne Centers REIT Inc., a grocery-anchored shopping center investment, management and operating platform.
The Walmart Neighborhood Market-anchored Bethesda Walk totals 68,271 square feet and is 98% occupied. In addition to Walmart Neighborhood Market, which draws over 1 million annual visits to the center, tenants include Subway, Wingstop, Metro by T-Mobile and a variety of necessity retailers.