Commercial Real Estate, Capital, Insurance, Leasing & Management

REBusiness Online: Franklin Street Arranges $8.4M Sale of CVS-Anchored Retail Center in Atlanta

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ATLANTA — Franklin Street has arranged the sale of Parkwood Shops, a 20,397-square-foot retail strip center located at 2014 SE Powers Ferry Road in Atlanta’s Cumberland-Galleria submarket. SITE Centers purchased the center from Ronus Properties for $8.4 million. Bryan Belk and John Tennant of Franklin Street represented the seller in the transaction. CVS/pharmacy anchors the property, which was fully leased at the time of sale to tenants including Boston Market, Jersey Mike’s, Planet Smoothie, Piu Bello Pizzeria, Hikaru Ramen and Personal Touch Cleaners. All tenants have at least four years remaining on their lease terms, according to Franklin Street.

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