Georgia

ATLANTA — JLL Capital Markets has arranged the $38 million sale of 1010 Midtown, a 44,302-square-foot retail center located on Peachtree Street in Midtown Atlanta. Brad Buchanan, Jim Hamilton and Andrew Kahn of JLL represented the seller, Atlanta-based The Ardent Cos., in the disposition of the property to Tampa-based East Coast Acquisitions. 1010 Midtown is located on the ground level of a 425-unit luxury condominium building that was not included in the sale. Completed in 2008, 1010 Midtown was 94 percent leased at the time of sale to tenants including Sugar Factory, RA Sushi Bar, Piedmont Healthcare, Silverlake Ramen, Better Homes and Gardens Real Estate, Panera Bread, Chipotle Mexican Grill and Sage Dental. Located at 1010 Peachtree St. NE, the property is situated less than one mile from Georgia Tech, 2.6 miles from Georgia State University, two miles from downtown Atlanta and less than one mile from Piedmont Park. The property is also 13.2 miles from Hartsfield-Jackson Atlanta International Airport.

STONECREST, GA. — The Palomar Group has arranged the sale of Turner Hill Marketplace, a 124,294-square-foot shopping center in Stonecrest, about 21.4 miles east of downtown Atlanta. A joint venture between Miami-based firms M Street Holdings and Highline Real Estate Capital acquired the property for $16.8 million. The Palomar Group represented the seller, Atlanta-based RCG Ventures, in the transaction. Built in 2001 and renovated in 2017, Turner Hill Marketplace is fully occupied by tenants such as Burlington, American Signature Furniture and Chapel Beauty. There are seven years remaining on the Burlington lease, and the American Signature Furniture and Chapel Beauty locations have new 10-year leases. Located on 2918 Turner Hill Road, Turner Hill Marketplace has access to Interstate 20 is situated 27 miles from Hartsfield-Jackson Atlanta International Airport.

LAKE CITY, GA. — Marcus & Millichap has brokered the $11.9 million sale of Lake City Commons, a 91,494-square-foot, Kroger-anchored shopping center in Lake City. Zach Taylor of Marcus & Millichap’s Taylor-McMinn Retail Group represented the seller, New York City-based SomeraRoad. The buyer, Forge Capital, a private real estate fund based in Tampa, completed an assumption of existing CMBS debt on the property. “Selling property with existing CMBS debt that must be assumed is historically difficult, but with the demand for well-located, grocery-anchored centers as high as it has ever been, there were many bidders competing for Lake City Commons,” says Taylor.