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Franklin Street Arranges Sale of Two Retail Centers in Georgia

Athens and Lawrenceville, Ga. — Franklin Street has arranged the sale of two retail properties located in Georgia, Cross Creek Village II and Athens Plaza.

Cross Creek Village II, a 20,800-square-foot shopping center located in Lawrenceville, sold for $1.2 million to Cross Creek Village II LLC, represented by John Kim.  Athens Plaza, a 119,633-square-foot Piggly Wiggly-anchored shopping center, is located minutes away from the University of Georgia in Athens, and was sold for an undisclosed amount to Cideco Development Co. Mac McCall, John Tennant and Bryan Belk of Franklin Street worked on behalf of the seller, MB REO-GA RETAIL LLC, in the Athens Plaza transaction, and John Tennant represented the seller, CRE 2011 REO GA-RETAIL LLC, in the Cross Creek Village II transaction. 

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Franklin Streets Arranges Sale of Athens Plaza in Athens, Georgia

Franklin Street has arranged the sale of Athens Plaza, a 119,633-square-foot shopping center located in Athens, Georgia. Mac McCall, John Tennant, and Bryan Belk of Franklin Street’s Atlanta office represented the seller, MB REO-GA RETAIL, LLC, in the transaction. Cideco Development Co, Inc. purchased the property.

“Athens Plaza provides the buyer an opportunity to redevelop a strategically located retail center minutes from the University of Georgia,” McCall said. “The current owner has allowed tenants to move to month-to-month leases, which gives a new owner more flexibility to reposition the asset.”

Athens Plaza, built in 1972 is located at 474 North Ave., and is anchored by Piggly Wiggly. Surrounding national retailers include CVS/pharmacy, Family Dollar, Advance Auto, and Autozone.

About Franklin Street: Franklin Street is a family of full-service real estate companies 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 divisions—Real Estate, Capital, Insurance, and Management—Franklin Street offers unmatched value and optimal solutions for clients nationwide. For more information on Franklin Street, please visit FranklinSt.com.

 

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