Holliday Fenoglio Fowler, L.P. (HFF) announces that it has closed the sale of Shallowford Corners, a 112,427-square-foot, Publix-anchored neighborhood shopping center in the affluent northern Atlanta submarket of Roswell, Georgia.
The HFF team marketed the property on behalf of the seller, LaSalle Investment Management. Publix purchased the asset.
Shallowford Corners is strategically located in one of the most highly sought-after Atlanta submarkets, East Cobb. The property is 99 percent leased and anchored by the Southeast’s most-desired grocer, Publix, which drives persistent traffic to the shopping center and its diversified, internet-proof tenant mix that includes a variety of service-oriented shops, medical/health tenants and restaurants. The nationally and regionally focused tenant line-up representing 82 percent of the property’s leased GLA has a strong operating history exceeding 11.5 years and includes the following notable retailers: Publix, Goodwill, JP Morgan Chase, Workout Anytime, Edward Jones, Banfield Pet Hospital, Great Clips and more. The property was originally constructed in 1986 on 16.1 acres located 20 miles north of downtown Atlanta at the highly traveled intersection of Johnson Ferry Road and Shallowford Road, which has combined traffic counts exceeding 47,000 vehicles per day.
The HFF investment advisory team representing the seller included senior managing director Jim Hamilton, directors Brad Buchanan and Mike Allison and analyst Andrew Kahn.
About LaSalle Investment Management, Inc.
LaSalle Investment Management, Inc. (together with its global investment advisory affiliates, “LaSalle”) is one of the world’s leading real estate investment managers. LaSalle on a global basis manages approximately $60.5 billion as of Q3 2018 of private and public equity and private debt investments. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. LaSalle Investment Management, Inc. is a wholly-owned, operationally independent subsidiary of Jones Lang LaSalle Incorporated (NYSE: JLL), one of the world’s largest real estate companies. For more information please visit www.lasalle.com.
About Publix
Publix is privately owned and operated by its more than 200,000 employees, with 2017 sales of $34.6 billion. Currently, Publix has 1,213 stores in Florida, Georgia, Alabama, Tennessee, South Carolina, North Carolina and Virginia. The company has been named one of Fortune’s 100 Best Companies to Work For in America for 21 consecutive years. In addition, Publix’s dedication to superior quality and customer service is recognized among the top in the grocery business. For more information, visit the company’s website, http://corporate.publix.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.
