Halpern Enterprises acquired the 80,773-SF retail property from Harbour Retail Partners
MCDONOUGH, GA (November 12, 2021) — Franklin Street has arranged the $9.6 million acquisition of McDonough West, an 80,773-square-foot retail property in McDonough, Georgia, 30 minutes south of Atlanta. The shopping center was 92.73% occupied at the time of sale and is anchored by national credit tenants including Goodwill, Planet Fitness and Dollar Tree.
Franklin Street’s Bryan Belk and John Tennant, with the firm’s Atlanta-based Retail Investment Sales Team, represented the buyer, Atlanta-based Halpern Enterprises, which acquired McDonough West as part of a 1031 Exchange. The seller was Harbour Retail Partners.
“McDonough West boasts a strong national tenant lineup with long-term leases that satisfied our clients acquisition criteria,” said Belk. “The property is centrally located in the market at a lighted intersection. Halpern Enterprises plans to focus on leasing up the vacancies and holding on to this property long term.”
Other tenants at McDonough West include CATO Fashions, Subway, Edward Jones and more. At 250 Jonesboro Road, the property benefits from being across from a strong performing Kroger-anchored shopping center.
“Atlanta’s suburban markets continue to thrive and Henry County is no exception,” said Tennant. “In the past five years, the county has welcomed several new companies, surpassed $1 billion in investments and added 6,560 new jobs to the market, all while its population continues to grow.”
About Franklin Street:
Founded in 2006 during one of the toughest real estate climates, Franklin Street focused on delivering value-added solutions to meet the evolving needs of clients. Through a collaborative philosophy of leveraging the resources, expertise and experience of each of its lines of business, Franklin Street has grown to include seven business divisions – Investment Sales, Tenant and Landlord Representation, Capital Advisory, Insurance, Property Management and Project Management. With more than $5 billion in transaction value across all major product types, Franklin Street offers unmatched value and optimal solutions for clients nationwide. Headquartered in Tampa, Fla., the company has offices in Fort Lauderdale, Jacksonville, Miami, Orlando and Atlanta. Learn more about Franklin Street at FranklinSt.com.