{"id":1004201755,"date":"2017-12-22T08:16:13","date_gmt":"2017-12-22T16:16:13","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004201755"},"modified":"2022-12-08T16:56:01","modified_gmt":"2022-12-09T00:56:01","slug":"philips-edison-reit-goes-shopping-in-ga","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/philips-edison-reit-goes-shopping-in-ga\/","title":{"rendered":"Philips Edison REIT Goes Shopping in GA"},"content":{"rendered":"<p>By Tudor Scolca<\/p>\n<div id=\"attachment_1004201756\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/mountain-crossing-shopping-center.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004201756\" data-attachment-id=\"1004201756\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/philips-edison-reit-goes-shopping-in-ga\/mountain-crossing-shopping-center\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/mountain-crossing-shopping-center-e1513959120834.jpg\" data-orig-size=\"636,478\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&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=\"mountain crossing shopping center\" data-image-description=\"&lt;p&gt;Mountain Crossing Shopping Center at 2700 Braselton Highway&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Mountain Crossing Shopping Center at 2700 Braselton Highway&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/mountain-crossing-shopping-center-e1513959120834.jpg?w=636\" class=\"wp-image-1004201756 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/mountain-crossing-shopping-center-e1513959120834.jpg\" alt=\"Mountain Crossing Shopping Center at 2700 Braselton Highway\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/mountain-crossing-shopping-center-e1513959120834.jpg 636w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/mountain-crossing-shopping-center-e1513959120834.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004201756\" class=\"wp-caption-text\">Mountain Crossing Shopping Center at 2700 Braselton Highway<\/p><\/div>\n<p>Philips Edison Grocery Center REIT II has purchased a 93,396-square-foot shopping center in Dacula, Ga. Mountain Crossing Associates sold the property for $13.8 million. Franklin Street\u2019s John Tennant and Bryan Belk represented both parties in the transaction.<\/p>\n<p>The Mountain Crossing retail center is located at 2700 Braselton Highway. The building is 97 percent occupied and anchored by Kroger. Other tenants include Great Clips, UPS, Wells Fargo and several restaurants. Georgia traffic officials announced a new highway interchange near the property, at the intersection of Interstate 85 and Gravel Springs Road.<\/p>\n<h2>Grocery-anchored strategy<\/h2>\n<p>The property is approximately eight miles from Lawrenceville and 25 miles from downtown Atlanta. It enjoys good exposure to traffic from nearby apartment communities. Gwinnett County has the largest public school district in Georgia, with nearly 180,000 students. Combined with the continued improvements to road infrastructure, the county is slated to continue attracting new developments.<\/p>\n<p>\u201c<em>Retail REITs continue to acquire well-positioned, grocery-anchored centers in core markets with good fundamentals. The new interchange off I-85 will generate new traffic patterns that will benefit the asset, further improving Mountain Crossing\u2019s position in the market,<\/em>\u201d said Tennant, senior director of Franklin Street, in a prepared statement.<\/p>\n<p>Franklin Street was recently involved in the transaction of another <a href=\"https:\/\/www.commercialsearch.com\/news\/franklin-street-closes-23m-sale-of-central-florida-retail-asset\/\">retail asset in Orlando<\/a>, Fla., a 96,750-square-foot asset which traded for $23.4 million.<\/p>\n<p><em>Image via Google Street View<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The shopping center is located at 2700 Braselton Highway, approximately 25 miles from downtown Atlanta and near an upcoming interchange off Interstate 85.<\/p>\n","protected":false},"author":1284,"featured_media":1004507541,"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":[35012,35626,34696],"class_list":["post-1004201755","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-atlanta","category-deals","category-latest","category-retail","tag-franklin-street","tag-kroger-company","tag-philips-edison-grocery-center-reit-ii"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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He joined CPE and MHN in 2017 and is passionate about doing research for the two publications. 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