CTO Realty Sells Atlanta Retail Asset for $73M

June 5, 2026

Retail Atlanta Investment News More Southeast

The property traded for about $451 per square foot.

Madison Yards, a 162,500-square-foot retail destination in Atlanta has recently changed hands. CTO Realty Growth sold the asset for $73.3 million, according to Atlanta Business Chronicle.

Public records show that the LLC that bough the asset has listed its place of business as Heitman Capital Management’s Chicago headquarters and its manager the Tennessee Consolidated Retirement System, the publication shows. Crawford Square Real Estate Advisors will lease and manage the property.

Located at 905 Memorial Drive SE within the Reynoldstown neighborhood in Southeast Atlanta, Madison Yards is close to Interstate 20 and about 2 miles from downtown Atlanta.

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The retail center came online in 2018 and has direct access to the Atlanta BeltLine railway. At the time of sale, the property was 97 percent leased, with Publix anchoring it. Tenants at the property provide food, entertainment and fitness services. It also has an AMC Theatre.

Madison Yards is part of a mixed-use project built by Fuqua Development. The master plan also comprises 495 residential units, as well as office space and townhomes.

Newmark Head of Retail Capital Markets Conor Lalor, Senior Managing Director Kyle Minter, Director James Sharpe and Associate Director Cameron Alexander represented the seller.

Atlanta retail sector stabilizes

Atlanta’s retail market is stabilizing, shaped by cautious tenant demand and a slower leasing environment, according to a Colliers report. Following a strong stretch in 2025, investor activity has remained measured so far this year, with cap rates holding steady amid elevated borrowing costs. The average price per square foot increased quarter-over-quarter in the first three months, rising from $175 to $177, but was flat year-over-year.

Another notable retail transaction in the metro since the start of the year was TA Realty’s purchase of Peachtree Station, a 106,388-square-foot property. Harrison Street Asset Management sold the property for $55.4 million.