{"id":1004179515,"date":"2017-06-07T14:05:43","date_gmt":"2017-06-07T22:05:43","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004179515"},"modified":"2022-12-09T02:42:38","modified_gmt":"2022-12-09T10:42:38","slug":"pac-nabs-ga-grocery-anchored-shopping-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/pac-nabs-ga-grocery-anchored-shopping-center\/","title":{"rendered":"PAC Nabs GA Grocery-Anchored Shopping Center"},"content":{"rendered":"

By Evelina Croitoru<\/p>\n

Preferred Apartment Communities Inc. (PAC) purchased Rockbridge Village, a roughly 102,432-square-foot retail center in Stone Mountain, Ga.\u00a0that is anchored by a 68,632-square-foot Kroger grocery store.<\/p>\n

Located at the intersection of Rockbridge Road and Five Forks Trickum Road in\u00a0Gwinnett County, the asset features entrance signage\u00a0and superior visibility. The immediate area has 6,406 households within a three-mile radius. \u00a0The property\u2019s tenant list includes Orangetheory\u00a0Fitness, Great Clips and AT&T<\/p>\n

PAC acquired the asset<\/a> through its wholly owned subsidiary, New Market Properties LLC, which specializes\u00a0in the grocery anchored shopping center sector. The company financed the purchase through a non-recourse first mortgage loan originated by The Prudential Insurance Company of America. The almost $14.3 million first mortgage loan bears interest at 3.8 percent fixed rate per annum. PAC or its operating partnership offered no loan guaranties. \u00a0<\/p>\n

“The acquisition of Rockbridge Village increases the size of our retail portfolio to 33 grocery-anchored shopping centers across seven Sunbelt states, consistent with our strategy to acquire well-positioned grocery-anchored shopping centers in suburban Sunbelt markets with strong demographics<\/em>,”\u00a0Joel \u00a0Murphy, president & CEO of New Market, said in prepared remarks.<\/p>\n

Images courtesy of Colliers<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The company\u2019s wholly owned subsidiary, New Market Properties LLC, purchased Rockbridge Village, a roughly 102,432-square-foot retail center in Stone Mountain, Ga.<\/p>\n","protected":false},"author":1055,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,21743,21742,21749],"tags":[35188,33087,33626],"class_list":["post-1004179515","post","type-post","status-publish","format-standard","hentry","category-atlanta","category-deals","category-latest","category-retail","tag-new-market-properties-llc","tag-preferred-apartment-communities-inc","tag-prudential-financial"],"acf":[],"yoast_head":"\nPAC Nabs GA Grocery-Anchored Shopping 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-ga-grocery-anchored-shopping-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PAC Nabs GA Grocery-Anchored Shopping Center\" \/>\n<meta property=\"og:description\" content=\"The company\u2019s wholly owned subsidiary, New Market Properties LLC, purchased Rockbridge Village, a roughly 102,432-square-foot retail center in Stone Mountain, Ga.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/pac-nabs-ga-grocery-anchored-shopping-center\/\" \/>\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=\"2017-06-07T22:05:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T10:42:38+00:00\" \/>\n<meta name=\"author\" content=\"Evelina Croitoru\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/pac-nabs-ga-grocery-anchored-shopping-center\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/pac-nabs-ga-grocery-anchored-shopping-center\/\",\"name\":\"PAC Nabs GA Grocery-Anchored Shopping Center - 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