Jones Lang LaSalle Inc.

05/03/2021 | Press release | Distributed by Public on 05/03/2021 18:02

High-performing Kroger-anchored shopping center in metro Atlanta sold

ATLANTA, May 3, 2021 -JLL Capital Markets announced today that it has closed the $20 million sale of Cofer Crossing, a fully leased 136,139-square-foot shopping center anchored by Kroger and HomeGoods in the Atlanta-area community of Tucker, Georgia.

JLL marketed the property on behalf of the seller, a partnership between SITE Centers Corp. and Madison International Realty. A private buyer based in Ontario, California, acquired the asset in a 1031 exchange.

Cofer Crossing is anchored by Kroger, Georgia's most dominant grocer and the fifth largest retailer in the world. With more than 1.1 million annual visitors in the last year, the center is the No. 1 most-visited shopping center within five miles. The fully leased property is also home to notable tenants HomeGoods, Dollar Tree and a line-up of national and regional tenants that have performed exceptionally over the past 12 months. Cofer Crossing is shadowed by the world's largest discount retailer, and Kroger recently acquired a former Shell Station located at the entrance of Cofer Crossing, which has since been renovated into a new Kroger Fuel Center and reflects Kroger's commitment to the property.

Cofer Crossing is situated on a 16.51-acre parcel at 4367 Lawrenceville Hwy. proximate to two of Atlanta's primary travel corridors, providing easy access and a steady flow of customers to the center. Tucker is less than 15 miles northeast of downtown Atlanta, and nearly 85,000 residents live within a three-mile radius of the property.

The JLL Retail Capital Markets team that represented the seller was led by Senior Managing Director Jim Hamilton, Senior Director Brad Buchanan and Associate Taylor Callaway.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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