Philips Edison Grocery Center REIT II has purchased a 93,396-square-foot shopping center in Dacula, Ga. Mountain Crossing Associates sold the property for $13.8 million. Franklin Street’s John Tennant and Bryan Belk represented both parties in the transaction.
The Mountain Crossing retail center is located at 2700 Braselton Highway. The building is 97 percent occupied and anchored by Kroger. Other tenants include Great Clips, UPS, Wells Fargo and several restaurants. Georgia traffic officials announced a new highway interchange near the property, at the intersection of Interstate 85 and Gravel Springs Road.
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