{"id":1004098444,"date":"2014-06-13T10:03:18","date_gmt":"2014-06-13T18:03:18","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=268980"},"modified":"2022-12-13T00:06:02","modified_gmt":"2022-12-13T08:06:02","slug":"wheeler-takes-ownership-of-freeway-junction","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/wheeler-takes-ownership-of-freeway-junction\/","title":{"rendered":"Wheeler Takes Ownership of Freeway Junction"},"content":{"rendered":"

\"\"<\/a><\/p>\n

Freeway Junction will change hands in the near future as Wheeler Real Estate Investment Trust Inc. announced that it has assumed the contract to acquire the shopping center for $10.5 million, or $66.63 per leasable square foot.<\/p>\n

Led by Jon S. Wheeler, the Virginia Beach-based firm is focused on owning, acquiring, financing, developing, renovating, leasing and managing income producing assets, such as community centers, neighborhood centers, strip centers and free-standing retail properties. Wheeler is represented by its broad portfolio in an area stretching from the Northeast through the Mid-Atlantic and the Southeast United States and is also present in the Southwest region. The company, according to a recent news release, intends to use a combination of cash and debt to pay for Freeway Junction and will assume the contract from its affiliate, Wheeler Interests LLC.<\/p>\n

Built in 1987, Freeway Junction is a 156,834 square-foot retail facility that was renovated in 2005. <\/strong>According to a press release, the center is 95.5 percent leased and counts four anchor tenants that occupy 70 percent of the leasable surfaces, along with several other nationally and regionally known tenants renting the remaining space. The shopping center is located in Stockbridge, Henry County, a part of the Atlanta metropolitan area with a population close to 26,000. At just 16 miles southeast of Atlanta, the property is situated on Highway 138, which has an average daily traffic of over 47,000 vehicles. The location is easily accessible from Interstate 75 through I-675, an auxiliary interstate highway traveling through the southeast part of Atlanta Metro.<\/p>\n

Photo credits:\u00a0Wheeler Real Estate Investment Trust<\/em> \u00a0<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Freeway Junction will change hands in the near future as Wheeler Real Estate Investment Trust Inc. announced that it has assumed the contract to acquire the shopping center for $10.5 million, or $66.63 per leasable square foot.<\/p>\n","protected":false},"author":35,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,21742],"tags":[39387,1815],"class_list":["post-1004098444","post","type-post","status-publish","format-standard","hentry","category-atlanta","category-latest","tag-atlanta","tag-national"],"acf":[],"yoast_head":"\nWheeler Takes Ownership of Freeway Junction - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/wheeler-takes-ownership-of-freeway-junction\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wheeler Takes Ownership of Freeway Junction\" \/>\n<meta property=\"og:description\" content=\"Freeway Junction will change hands in the near future as Wheeler Real Estate Investment Trust Inc. announced that it has assumed the contract to acquire the shopping center for $10.5 million, or $66.63 per leasable square foot.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/wheeler-takes-ownership-of-freeway-junction\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-06-13T18:03:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-13T08:06:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/06\/2014-06-12-Wheeler-Takes-Ownership-of-Freeway-Junction.jpg\" \/>\n<meta name=\"author\" content=\"Balazs Szekely\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wheeler-takes-ownership-of-freeway-junction\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wheeler-takes-ownership-of-freeway-junction\\\/\"},\"author\":{\"name\":\"Balazs Szekely\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/623e95293ca6c6791bedc7473f548d7f\"},\"headline\":\"Wheeler Takes Ownership of Freeway Junction\",\"datePublished\":\"2014-06-13T18:03:18+00:00\",\"dateModified\":\"2022-12-13T08:06:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wheeler-takes-ownership-of-freeway-junction\\\/\"},\"wordCount\":257,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wheeler-takes-ownership-of-freeway-junction\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/06\\\/2014-06-12-Wheeler-Takes-Ownership-of-Freeway-Junction.jpg\",\"keywords\":[\"Atlanta\",\"National\"],\"articleSection\":[\"Atlanta\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wheeler-takes-ownership-of-freeway-junction\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wheeler-takes-ownership-of-freeway-junction\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wheeler-takes-ownership-of-freeway-junction\\\/\",\"name\":\"Wheeler Takes Ownership of Freeway Junction - 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