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Nuveen Real Estate Sells Global-Tenant Leased Retail Building in Fayetteville for $25M
Nuveen Real Estate has completed the $24.5-million sale its 216,251-square-foot, single-tenant retail building within the Fayette Pavilion shopping complex in the Atlanta submarket of Fayetteville, GA.
The property is leased to a global tenant and sits within the Fayette Pavilion shopping complex at 125 Pavilion Parkway. The investment-grade and industry-leading tenant has occupied the building since 1996 and recently executed an early 10-year renewal.
Michael Brewster, Whitaker Leonhardt and Jim Hamilton of JLL represented Nuveen Real Estate in the transaction. A private investor acquired the asset.
“We’re talking about the largest retailer in the world. That sort of fame gives way for fierce competition to own a piece of their real estate — from both private investors and public REIT’s,” Brewster said. “Add to that a Southeast location in an extremely dominant shopping center, down the street from where Marvel Studios is making the next blockbuster at Trilith… this was a special offering.”
- ◦Sale/Acquisition
