Franklin Street is pleased to announce the $11million sale of Robson Crossing, a Publix-anchored 99,170-square-foot shopping center in Flowery Branch, Georgia. John Tennant and Bryan Belk of Franklin Street’s Atlanta office represented the Gainesville, Georgia-based seller, Robson Crossing LLC, in the transaction. The Ontario, Canada-based buyer, SUSO 3 Lovingston LP, plans to upgrade the center and extend the Publix lease to hold the property long-term.
“When Franklin Street secured the leasing and management of Robson Crossing in 2015, we were able to renew several leases as well as add new tenants to the center, which increased the net operating income on the asset,” Tennant said. “When the seller was ready to take the asset to market, we were able to easily identify the right buyer.”
Robson Crossing is located at 3446 Winder Highway just 40 miles northeast of Atlanta and minutes from Lake Lanier, the largest lake in Georgia and a primary recreational destination for the Atlanta area. The shopping center benefits from being at the intersection of two well-traveled roads in the area and just off I-985, sharing an exit with Gainesville State College.
“There is still tremendous interest to purchase grocery- anchored centers throughout all parts of the country,” Tennant said. “The demand for this asset class allowed Franklin Street to deliver the owner multiple offers for the center and achieve the best pricing.”
Robson Crossing has had a strong historical occupancy of 90 percent or higher since opening in 1998. The center is occupied by a strong mix of national, regional and local tenants, including GNC, The UPS Store, Ace Hardware, O’Reilly Automotive, Sonic and Chick-fil-A.
About Franklin Street: Celebrating more than 10 years in the business, Franklin Street is a family of full-service commercial real estate companies focused on delivering value-add solutions to meet the evolving needs of clients. Through a collaborative philosophy of leveraging the resources, expertise and experience of each of its divisions – Real Estate, Capital, Insurance, Management and Valuation – Franklin Street offers unmatched value and optimal solutions for clients nationwide. Learn more about Franklin Street at FranklinSt.com.
