Atlanta & Southeast News In Your Inbox
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Stan Johnson Company Facilitates $9M Sale of Jonesboro Retail Portfolio
Stan Johnson Company has completed the $9.3-million sale of a multi-tenant retail portfolio in the Atlanta submarket of Jonesboro, GA.
This portfolio includes the Shops of Tara plus a 4,164-square-foot Starbucks and AT&T outparcel located at 6620 and 6564 Tara Boulevard. The Shops of Tara totals 69,868 square feet and is leased to 20 local tenants.
Jeff Enck of Stan John Company represented the seller, a private fund out of Australia. The properties were acquired by a GA-based investor group.
“The property garnered exceptional interest as the Starbucks and AT&T outparcel was included in an otherwise non-credit shopping center,” said Enck, who fielded 16 offers. “The multi-tenant retail sector continues to show modest strength as investors look to hedge against the sharp rise in inflation. We are starting to see signs of caution; however, the 1031 buyers are continuing to hold up pricing for the moment.”
The strip center was built in 1984 and refurbished in 2019.
- ◦Sale/Acquisition
