Shaked Acquisitions has bought Cobb Place, a 335,190-square-foot retail heart in Kennesaw, Ga., for $63.5 million. Wicker Park Capital Administration bought the asset, in a transaction brokered by JLL Capital Markets.
Wicker Park acquired the procuring heart for $53.5 million again in 2019, in line with CommercialEdge knowledge. The property grew to become topic to a $40 million mortgage originated by Goldman Sachs.
Accomplished in 1986, the super-regional procuring heart contains two buildings located on a 31-acre property. The property’s tenants have a mean tenure that exceeds 17 years.
Ashley HomeStore, American Signature Furnishings, DSW, World Market, Passion City, Bassett Furnishings, Natuzzi and BrandsMart anchor the property. Cobb Place additionally contains a various combine of outlets together with Petland, Korean BBQ, Metro PCs, Weight Watchers and Wing Manufacturing unit, amongst others.
READ ALSO: Unwrapping Vacation Retail Developments
Situated at 840 Ernest W. Barrett Parkway, the procuring heart is inside Atlanta’s Marietta – Kennesaw submarket. Cobb Place is located alongside Interstate 75, considered one of Georgia’s busiest corridors, and is the state’s second most visited retail space. It’s close to Kennesaw State College, Cobb County Worldwide Airport and Dobbins Air Pressure Base.
Senior Managing Director Jim Hamilton, Managing Director Brad Buchanan, Director Andrew Kahn and Analyst Anton Serafini led JLL’s Funding and Gross sales Advisory crew engaged on behalf of the vendor.
The identical JLL crew has just lately brokered the sale of Northlake Sq., a 82,578-square-foot retail heart in Tucker, Ga. Barnhart Guess bought the ALDI-anchored property to Greenberg Gibbons for $17.3 million.
