Rothenberg-Rosenfield Acquires Savannah Shopping Center for $25M
New York-based Rothenberg-Rosenfield (RRI) has acquired Victory Station, a 64,164-square-foot, Whole Foods-anchored shopping center in Savannah, GA. The sales price was $24.6 million.
Built in 2013, Victory Station is currently 96% leased with only one available space. The Whole Foods Market is the retailer’s only location in Savannah and one of only two specialty grocery stores in the entire trade area. The shopping center’s other national tenants include PetSmart, Chipotle, T-Mobile and Zoe’s Kitchen as well as four locally- owned businesses.
“We’re excited for a project of this caliber to be our first investment in the Savannah market,” said Josh Rosenfield, director and vice president at RRI. “With the Port of Savannah being the fastest-growing port in the nation, and Savannah’s draw as a top tourist destination, we anticipate additional investments in the market.”
RRI has tapped Colliers International to lease and manage the property. The seller was Clarion Partners.
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector.
Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA.
David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.