Shaked Acquisitions has bought Cobb Place, a 335,190-square-foot retail heart in Kennesaw, Ga., for $63.5 million. Wicker Park Capital Administration bought the asset, in a transaction brokered by JLL Capital Markets.
Wicker Park acquired the purchasing heart for $53.5 million again in 2019, in response to CommercialEdge knowledge. The property grew to become topic to a $40 million mortgage originated by Goldman Sachs.
Accomplished in 1986, the super-regional purchasing heart contains two buildings located on a 31-acre property. The property’s tenants have a mean tenure that exceeds 17 years.
Ashley HomeStore, American Signature Furnishings, DSW, World Market, Pastime City, Bassett Furnishings, Natuzzi and BrandsMart anchor the property. Cobb Place additionally includes a numerous combine of outlets together with Petland, Korean BBQ, Metro PCs, Weight Watchers and Wing Manufacturing facility, amongst others.
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Positioned at 840 Ernest W. Barrett Parkway, the purchasing heart is inside Atlanta’s Marietta – Kennesaw submarket. Cobb Place is located alongside Interstate 75, one in every of Georgia’s busiest corridors, and is the state’s second most visited retail space. It’s close to Kennesaw State College, Cobb County Worldwide Airport and Dobbins Air Drive Base.
Senior Managing Director Jim Hamilton, Managing Director Brad Buchanan, Director Andrew Kahn and Analyst Anton Serafini led JLL’s Funding and Gross sales Advisory group engaged on behalf of the vendor.
The identical JLL group has not too long ago brokered the sale of Northlake Sq., a 82,578-square-foot retail heart in Tucker, Ga. Barnhart Guess bought the ALDI-anchored property to Greenberg Gibbons for $17.3 million.
