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Atlanta & Southeast  + Atlanta Metro  + Retail  | 
615 Ventures has acquired Town Center Commons retail center in Kennesaw, GA, for $13 million from Ardent.

615 Ventures Pays $13M for Kennesaw Retail Center in Costco’s Shadow

Nashville-based 615 Ventures has acquired Town Center Commons, a 72,168-square-foot retail property in Kennesaw, GA, for $13 million (approximately $180.14 per square foot). The 96% occupied property is shadow anchored by Dick’s Sporting Goods and Costco.

Bryan Belk and John Tennant of Franklin Street represented the seller, Ardent, in the transaction with 615 Ventures, an investment firm that focuses primarily on the acquisition and management of real estate assets.

“While rising interest rates have caused investors to reevaluate their acquisition strategies, properties like Town Center Commons, with its prime location and great upside potential, continue to make strong long-term investments,” said Belk.

The property boasts strong historical occupancy, and a vacant 2,880-square-foot end cap unit provides upside opportunity, according to Franklin Street. The property occupies 8.11 acres at 725 Ernest W Barrett Parkway along a retail corridor that sees an average daily traffic count of over 53,000 vehicles.

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Franklin Street's Belk

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition