LaSalle Investment Management has sold Shallowford Corners, a 112,427-square-foot retail center in Roswell, Ga., to Publix, the supermarket chain that is also the center’s anchor tenant. An HFF team arranged the transaction on behalf of the seller.
Located at 4401 Shallowford Road in the East Cobb retail submarket, Shallowford Corners is 20 miles north of downtown Atlanta. The property is situated at the busy intersection of Johnson Ferry and Shallowford roads, with a traffic count of more than 47,000 vehicles per day, while interstates 75 and 575 are also close by.
The retail center was constructed in 1986 on 16.1 acres and is currently 99 percent leased. The tenant mix includes a variety of service-oriented shops, restaurants and health-care providers, such as Publix, Goodwill, JP Morgan Chase, Workout Anytime, Edward Jones, Banfield Pet Hospital, Great Clips and more. Most of the tenants, representing 82 percent of the property, have an operating history of more than 11 years.
The HFF advisory team representing the seller included Senior Managing Director Jim Hamilton, Directors Brad Buchanan and Mike Allison and Analyst Andrew Kahn.
Last September, Publix acquired the Snow Hill Village shopping center for $18.5 million.
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