By Balazs Szekely, Associate Editor
Two retail developments in the northeastern submarkets of the Big Peach were sold in separate transactions in early October. Combined, Duluth’s Venture Pointe and the Windward Plaza in Alpharetta measure close to 490,000 square feet.
Venture Pointe is strategically positioned within a significant retail corridor, adjacent to PGA Superstore and Dave & Buster’s, offering easy accessibility through the I-85’s Steve Resoldare Blvd. exit. The 335,151-square-foot property is anchored by Kohl’s, Big Lots and Golfsmith. Lincoln Property Company Southeast and SRS Real Estate Partners arranged the $15.7 million sale on behalf of the seller, Wells Fargo Bank. The marketing team was led by Tony Bartlett and Chip Sipple of Lincoln and Kyle Stonis and Pierce Mayson of SRS. Angkawijana LLC purchased the property.
Windward Plaza is situated on 14.5 acres at the northwest corner of GA 400 and Windward Parkway, less than 30 miles from downtown Atlanta. The 152,648-square-foot property is anchored by LA Fitness, hhgregg and Office Depot. HFF represented the seller, Columbus Pacific Properties in the disposition. Senior managing directors Jim Hamilton and Richard Reid spoke for CPP during the negotiations. Stockbridge Capital Group purchased the asset free and clear of existing debt. The purchase price remained undisclosed.
Photo credit: HFF