Commercial Real Estate, Capital, Insurance, Leasing & Management

Connect CRE: SITE Centers Lands $8M CVS-Anchored Retail Center in Atlanta’s Cumberland

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SITE Centers has completed its $8.4-million ($412 per square foot) acquisition of Parkwood Shops, a 20,397-square-foot retail strip center in Atlanta, GA. The 100% occupied property on Powers Ferry Road is anchored by CVS Pharmacy.

Bryan Belk and John Tennant of Franklin Street represented the seller, Ronus Properties, in the transaction.

“While investors today are revising their strategies in consideration of rising interest rates, demand for Atlanta retail remains quite strong,” said Belk. “That’s evident in the fact that we received over 15 qualified offers on this property and closed above list price.”

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