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Partnership Acquires Metro Atlanta Retail Center for $35M
A partnership between Lincoln Property Co. and Stockbridge has acquired Barrett Pavilion, a 458,740-square-foot retail power center in metro Atlanta. The sales price was $34.6 million.
Located on approximately 55 acres at the intersection of Ernest W. Barrett Parkway, Cobb Place Boulevard and Cobb Place Lane, the property is adjacent to Interstate 75 and is less than two miles from Kennesaw State University. Barrett Pavilion is anchored by national tenants, including AMC Theatres, Jo-Ann Fabric and Crafts, Best Buy, Old Navy, Ulta Beauty, Total Wine & More and REI. The center is also shadow anchored by Target.
Margaret Caldwell and Margaret Jones of JLL represented the seller, a partnership between Nuveen Real Estate and SITE Centers Corp., in the transaction. Additionally, Tarik Bateh and Jennifer Swanson of JLL secured a four-year floating-rate acquisition loan on behalf of the buyer through lender Prime Finance.
For comments, questions or concerns, please contact David Cohen
- ◦Sale/Acquisition
