Holliday Fenoglio Fowler, L.P. (HFF) announces that it has closed the sale of Olde Mill Plaza, a 105,847-square-foot retail center anchored by a Walmart Neighborhood Market in the Atlanta-area community of Marietta, Georgia.
The HFF team marketed the property on behalf of the seller, BET Investments. Livingston Properties purchased the asset.
Anchored by a Walmart Neighborhood Market, the 91-percent-leased Olde Mill Plaza is home to a mix of restaurant, service and necessity tenants, including Just Fitness 4U, Heartland Dental, Los Acros Mexican Restaurant, European Deli, Le Nails Spa2 and K&G Tailors. Olde Mill Plaza is in Marietta about 18.5 miles north of downtown Atlanta in the affluent East Cobb Retail submarket. Olde Mill Plaza is situated on 12.41 acres at 3101 Roswell Road at the intersection of Roswell Road and Old Canton Road, which have a combined traffic count of more than 70,000 vehicles per day. More than 70,000 residents earning an average annual income of $133,988 live within a three-mile radius of the center, and the center has limited grocery competition within a 1.5-mile radius. The property caters to the area's young families, as well as its maturing demographic.
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 BET Investments
BET Investments, a Bruce Toll owned company, owns, manages, develops and leases retail complexes, apartment buildings and mixed-use projects throughout the United States. The company’s portfolio has grown to more than five million square feet of commercial space and 4,000 apartments.
Livingston Properties owns, develops, redevelops, manages and leases shopping centers, NNN properties and office buildings throughout Georgia and South Carolina with its primary focus in the northern suburbs of Atlanta. Livingston Properties is a privately held company owned by Bill Livingston based out of Warner Robins, Georgia. The company’s current portfolio consists of over one million square feet focusing primarily on grocery and other big box anchored or shadow centers. In business for over 35 years, Livingston Properties welcomes opportunities for other acquisitions within the region. Visit https://livingstonproperties.net to learn more.
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.
