Village Shoppes of East Cherokee in Woodstock, Ga. Picture courtesy of First Nationwide Realty Companions
First Nationwide Realty Companions has expanded its portfolio of procuring facilities within the Atlanta space with the acquisition of Village Shoppes of East Cherokee in Woodstock, Ga., and Cherokee Commons in Acworth, Ga.
In keeping with CommercialEdge information, the vendor of each retail facilities was Bandera Ventures, represented within the transactions by CBRE’s Matt Karempelis.
Bandera Ventures acquired the Village Shoppes of East Cherokee property for $19.8 million in August 2021, and Cherokee Commons for $11.3 million in April 2021, in keeping with the identical supply.
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Cherokee Commons. Picture courtesy of First Nationwide Realty Companions
The 123,783-square-foot Village Shoppes of East Cherokee is anchored by grocery store chain Publix, which occupies 44,840 sq. toes. Publix has been a tenant since 2003 and has since been joined by different retailers together with Greenback Tree, Exercise Anytime, Huntington Studying Middle and Subway. Situated at 6234 Holly Springs Parkway in Woodstock, Ga., the procuring middle has 5 accessible suites.
Seven miles away, the 103,835-square-foot Cherokee Commons is anchored by grocery store and division retailer chain Kroger, underneath a 66,918-square-foot lease. Kroger has been a tenant on the procuring middle since 1986 and has expanded its footprint at Cherokee Commons a number of occasions throughout its greater than 30 years of tenancy. The procuring middle is situated at 6199 Freeway 92 in Acworth, Ga. Its different tenants embody Pet Provides Plus, CosmoProf, Match Physique Boot Camp and Jackson Hewitt, and has three accessible areas.
Coast-to-coast procuring facilities
For First Nationwide, these two procuring middle acquisitions bolster the agency’s retail presence in metro Atlanta. First Nationwide is seeking to proceed rising its portfolio of open-air retail properties, specializing in grocery-anchored procuring facilities throughout main and secondary U.S. markets with robust demographics.
First Nationwide’s portfolio of retail properties stretches from Suisun Metropolis, Calif., to Plaistow, N.H. Earlier this 12 months, First Nationwide acquired a 359,484-square-foot retail middle in Waldorf, Md., which is anchored by Safeway. In December, the agency additionally expanded its presence in Alabama with the acquisition of the 304,935-square-foot Cullman Purchasing Middle, which is anchored by a forty five,600-square-foot Publix Meals Retailer.
