Property: The Shops at Johns Creek, a Kroger anchored shadow center
Address: Johns Creek, Georgia (North Atlanta)
Size: 20,000 SF on 2.5 acres
Buyer: An investment group headed by Shannon Waltchack
Seller: Altus Johns Creek, LLC
Broker: Craig Taylor, CBRE
Lender: American Equity Investment Life Insurance Company
Quotes:
‘Shannon Waltchack made the strategic decision last year to begin to carefully and methodically expand our geographic footprint outside of Alabama. Over the next couple of years we will be more active in the Atlanta, Chattanooga, Knoxville and Nashville markets.’
The shops at Johns Creek perfectly fits our investment model. The fully occupied center is in Johns Creek, Georgia’s 3rd most wealthy city and we bought the property for less than replacement cost, with below markets rents.’ – Derek Waltchack
The Shops at Johns Creek, a Kroger anchored shadow center