Ardent Companies Captures $38M for Midtown Urban Retail Center
The Ardent Companies, LLC, has sold 1010 Midtown, a 44,302-square-foot urban retail center Atlanta’s Midtown area, for $38 million. A JLL team of Brad Buchanan, Jim Hamilton and Andrew Kahn represented the seller; East Coast Acquisitions purchased the asset.
The center comprises the ground level of a 425-unit luxury condominium building that was not included in the sale.
The 2008-constructed property on Peachtree Street is 94% leased to a curated mix of high-performing tenants, including Sugar Factory, RA Sushi Bar, Piedmont Healthcare, Silverlake Ramen, Better Homes and Gardens Real Estate, Panera Brad, Sweathouz, Chipotle and Sage Dental.
1010 Midtown serves a dense customer base that, within a two-mile radius, includes a daytime population of more than 216,773 and a residential base of 109,750, which JLL states is anticipated to grow 12.2 percent by 2026.
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.