Coro Realty, Pope & Land Dispose of Final Retail Asset Purchased at COVID’s Onset
Coro Realty and Atlanta, GA-based Pope & Land Enterprises have sold Brookside Station, a 23,500-square-foot shopping center in located in Alpharetta, GA.
The joint-venture partners acquired the center as part of a three-property portfolio purchased with partners M&P Shopping Centers and Atrium Group-Holland from Muntzing-Sattele a month before the COVID pandemic shuttered the global economy. It kept the properties open and afloat and executed value-add strategies in 2021 and 2022.
“We saw opportunities with the three centers, and despite headwinds the world has never seen, we were able to execute our program and exit ahead of schedule,” said Trina Joseph, managing partner of real estate development and investment firm Coro Realty.
The partnership sold the portfolio’s Town Center Oaks, a 52,000-square-foot retail center in Kennesaw, to a private buyer in August 2022 and sold Mansell Oaks, a 43,000-square-foot neighborhood shopping center in Roswell, to Mimms Enterprises in November 2022.