Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of a generational, 334,787-square-foot, two-property retail portfolio comprising The Exchange at Hammond and Parkside Shops, which are adjacent to one another in the Atlanta-area community of Sandy Springs, Georgia.
The HFF team marketed the properties on behalf of the seller, Mimms Enterprises. Jamestown purchased the assets free and clear of existing debt.
The Exchange at Hammond is at 5930-5992 Roswell Road Northeast and Parkside Shops is at 5920 Roswell Road Northeast in one of Atlanta’s premier locations near two of the most heavily traveled and connective interstates in Georgia, Interstate 285 and Georgia 400. The retail centers are positioned on 25 contiguous acres at the intersection of Roswell Road and Hammond Drive, one of the most sought-after intersection in Atlanta with approximately 70,800 vehicles passing the properties per day. The affluent Buckhead community is three miles away, with midtown and downtown Atlanta eight and 10 miles away, respectively. There are 86,120 residents earning an average annual household income of more than $145,000 within three miles of the centers.
The 176,376-square-foot The Exchange at Hammond is fully leased to Whole Foods Market, Marshalls, Office Depot, Petco, Dollar Tree and more.
Parkside Shops is a 158,411-square-foot, value-add retail center that is leased to a variety of national and regional tenants, including The Cinema Springs & Taphouse, Tuesday Morning, Jump Start Gym, Chipotle, Egg Harbor Café, Subway and il Giallo Osteria & Bar.
The HFF investment advisory team representing the seller included senior managing director Jim Hamilton, directors Brad Buchanan and Michael Allison and associate Shea Petrick.
For Mimms, this sale was the opportunity to focus on its remaining core assets of 31 properties totaling over 2,000,000 square feet and to place more emphasis on acquiring multi-tenant retail and industrial opportunities throughout Atlanta and the Southeast.
About Mimms Enterprises
Founded in 1936, Mimms Enterprises is a privately owned, fourth generation commercial real estate investment company based in Roswell, Georgia. Learn more at http://mimms.com.
About Jamestown
Jamestown was established in 1983 as an investment and management company focused on income-producing real estate in the United States. Over the last 35 years, Jamestown has expanded into a national, vertically integrated real estate operator with approximately $10.3 billion of assets under management as of June 30, 2018. Jamestown’s capabilities include: acquisitions, capital markets, property management, asset management, retail leasing, design, sustainability and risk management. Jamestown employs more than 140 professionals in the United States, with headquarters in Atlanta, Georgia, and additional offices in New York, New York; Boston, Massachusetts; San Francisco and Los Angeles, California; and Bogotá, Colombia. All real estate acquisition and asset management activities are coordinated out of the U.S. offices, as well as fundraising, marketing and investor relations for institutional investors. The related company, Jamestown US Immobilien GmbH, has approximately 40 employees based in Cologne, Germany, who are focused on investor relations, fundraising and marketing for European investors as well as portfolio and risk management of core funds for German investors. For more information, please visit http://www.jamestownlp.com.
About HFF
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.
