ALPHARETTA, GA. — PGIM Real Estate has acquired Avalon, a 1.1 million-square-foot mixed-use lifestyle center in the Atlanta suburb of Alpharetta.
North American Properties developed Avalon in 2014 at an estimated cost of $600 million. The sale price was not disclosed. PGIM acquired the center on behalf of institutional investors.
The open-air lifestyle center contains 390,543 square feet of retail space, 105,364 square feet of Class A office space, 250 luxury apartment units and a 3.3-acre office development parcel. It is part of an 86-acre master-planned community about 20 miles north of Atlanta that features an additional 100 single-family homes, office tower, hotel, conference center and medical office building, which are all..