Tuesday, May 17, 2011
ATLANTA, GA –HFF announced today that it has closed the sale of Village Shoppes of Flowery Branch (top left photo), a 92,985-square-foot, grocery-anchored shopping center in northern Atlanta.
HFF marketed the property on behalf of the seller, institutional investors advised by J.P. Morgan Asset Management - Global Real Assets. Kimco Realty Corporation purchased the center for $13.7 million and assumed an existing mortgage loan.
Village Shoppes of Flowery Branch is located at 5900 Spout Springs Road close to the Interstate 985/Spout Springs Road interchange in northern Atlanta. Completed in 2002, the 92 percent leased property is anchored by Publix.
The HFF team representing the seller was led by directors Richard Reid and Jim Hamilton.
“The property attracted a lot of investor interest due to its Atlanta location, strong grocery anchor, and regional draw on Interstate 985,” said Reid.
Richard M. Reid, HFF Director, (404) 942-2209, firstname.lastname@example.org
Jim R. Hamilton, HFF Director, (404) 942-2212,
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500