Suburban Atlanta Retail Asset Trades for $11M

Trowbridge Crossing. Image courtesy of InvenTrust Properties Corp.

InvenTrust Properties Corp. has acquired Trowbridge Crossing, a 62,600-square-foot retail center in Sandy Springs, Ga., for $11 million. At the time of sale, the property was fully leased.

Located at 7531 Roswell Road on roughly 8 acres, the shopping destination opened its doors in 1979. The center is home to anchor tenant Publix, as well as other retailers, such as Domino’s Pizza, Great Clips, T-Mobile and a branch of the U.S. Postal Service. The transit-oriented property is close to State Route 19 and some 18 miles north of downtown Atlanta.

Sandy Springs is one of InvenTrust’s strategic markets, according to Christy David, the company’s chief investment officer. Mercedes-Benz USA and UPS have global headquarters within 2 miles of the center, and the city has favorable demographics. David also stated that the firm anticipates it will be a net buyer this year.

Last September, InvenTrust acquired Travilah Square, a 61,500-square-foot retail property in North Potomac, Md., for $52.3 million.