{"id":1004174231,"date":"2017-04-27T00:55:48","date_gmt":"2017-04-27T08:55:48","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004174231"},"modified":"2022-12-07T19:55:40","modified_gmt":"2022-12-08T03:55:40","slug":"pac-nabs-atlanta-area-retail-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/pac-nabs-atlanta-area-retail-center\/","title":{"rendered":"PAC Nabs Atlanta-Area Retail Center"},"content":{"rendered":"<p>By Evelina Croitoru<\/p>\n<div id=\"attachment_1004174281\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/Castleberry-Southard.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004174281\" data-attachment-id=\"1004174281\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/pac-nabs-atlanta-area-retail-center\/castleberry-southard\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/Castleberry-Southard.jpg\" data-orig-size=\"1056,703\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Evelina Croitoru&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1493223308&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Castleberry-Southard\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/Castleberry-Southard.jpg?w=1024\" class=\"wp-image-1004174281 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/Castleberry-Southard.jpg\" alt=\"Castleberry-Southard\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/Castleberry-Southard.jpg 1056w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/Castleberry-Southard.jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/Castleberry-Southard.jpg?resize=768,511 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/Castleberry-Southard.jpg?resize=1024,682 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004174281\" class=\"wp-caption-text\">Castleberry-Southard<\/p><\/div>\n<p>Preferred Apartment Communities Inc. has purchased Castleberry-Southard, an 80,018-square-foot retail center in the Atlanta area. The shopping center is anchored by a 45,600-square-foot Publix grocery store.<\/p>\n<p>Located at 5475 Bethelview Road in Cumming, Ga., in the vicinity of Georgia State Route 400, the asset is situated within a heavily trafficked area where roughly 37,225 people live on a 3-mile radius. The property\u2019s tenant list also includes The UPS Store, Las Palmas Mexican Restaurant and Bethelview Eyecare, among others.<\/p>\n<p>The company acquired the asset through its wholly owned subsidiary New Market Properties LLC. The firm\u00a0financed the purchase utilizing\u00a0a non-recourse first mortgage loan from Principal Life Insurance Co. The $11.5 million loan has a four percent fixed interest rate per annum and is due in 2027. <a href=\"https:\/\/www.multihousingnews.com\/post\/pac-lands-recently-built-virginia-community\/\" target=\"_blank\" rel=\"noopener\">PAC<\/a>\u00a0and its operating partnership provided no loan guaranties.<\/p>\n<div id=\"attachment_1004174282\" style=\"width: 310px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/5475-Bethelview-Road-in-Cumming-Ga..jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004174282\" data-attachment-id=\"1004174282\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/pac-nabs-atlanta-area-retail-center\/5475-bethelview-road-in-cumming-ga\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/5475-Bethelview-Road-in-Cumming-Ga..jpg\" data-orig-size=\"590,300\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;14&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;NIKON D2X&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1172572655&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;12&quot;,&quot;iso&quot;:&quot;125&quot;,&quot;shutter_speed&quot;:&quot;0.00625&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"5475 Bethelview Road in Cumming, Ga.\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/5475-Bethelview-Road-in-Cumming-Ga..jpg?w=590\" class=\"wp-image-1004174282 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/5475-Bethelview-Road-in-Cumming-Ga..jpg\" alt=\"5475 Bethelview Road, Cumming, Ga.\" width=\"300\" height=\"153\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/5475-Bethelview-Road-in-Cumming-Ga..jpg 590w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/5475-Bethelview-Road-in-Cumming-Ga..jpg?resize=300,153 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004174282\" class=\"wp-caption-text\">5475 Bethelview Road, Cumming, Ga.<\/p><\/div>\n<p>&#8220;<em>We believe the synergistic tenant mix of Castleberry-Southard with their strong historical sales performance will continue to benefit from the area&#8217;s rapid residential growth. The acquisition of Castleberry-Southard increases the size of our retail portfolio to 32 grocery-anchored centers across seven Sunbelt states, consistent with our strategy to acquire well-positioned grocery-anchored centers in suburban Sunbelt markets with strong demographics<\/em>,\u201d Joel Murphy, president &amp; CEO of New Market, said in prepared remarks.<\/p>\n<p><em>Images courtesy of Retail Planning Corp.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company acquired an 80,018-square-foot shopping center anchored by a 45,600-square-foot Publix grocery store. PAC financed the acquisition utilizing a $11.5 million non-recourse first mortgage loan.<\/p>\n","protected":false},"author":1055,"featured_media":1004174281,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,21743,21783,21742,21749],"tags":[35188,33087],"class_list":["post-1004174231","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-atlanta","category-deals","category-investment","category-latest","category-retail","tag-new-market-properties-llc","tag-preferred-apartment-communities-inc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>PAC Nabs Atlanta-Area Retail Center - 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\/pac-nabs-atlanta-area-retail-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PAC Nabs Atlanta-Area Retail Center\" \/>\n<meta property=\"og:description\" content=\"The company acquired an 80,018-square-foot shopping center anchored by a 45,600-square-foot Publix grocery store. 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