{"id":1004749405,"date":"2025-03-04T04:02:57","date_gmt":"2025-03-04T12:02:57","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004749405"},"modified":"2025-03-04T07:55:28","modified_gmt":"2025-03-04T15:55:28","slug":"cto-realty-grows-atlanta-footprint-with-80m-buy","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cto-realty-grows-atlanta-footprint-with-80m-buy\/","title":{"rendered":"CTO Realty Grows Atlanta Footprint With $80M Buy"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/CTO-Realty-Growth.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1561\" height=\"1171\" data-attachment-id=\"1004749406\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/cto-realty-grows-atlanta-footprint-with-80m-buy\/cto-realty-growth\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/CTO-Realty-Growth.jpg\" data-orig-size=\"1561,1171\" 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=\"CTO-Realty-Growth\" data-image-description=\"&lt;p&gt;Aerial shot of an intersection flanked by two retail properties.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;CTO Realty Growth\u2019s retail portfolio encompasses 5.2 million square feet. Image courtesy of CTO Realty Growth&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/CTO-Realty-Growth.jpg?w=1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/CTO-Realty-Growth.jpg\" alt=\"Aerial shot of an intersection flanked by two retail properties.\" class=\"wp-image-1004749406\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/CTO-Realty-Growth.jpg 1561w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/CTO-Realty-Growth.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/CTO-Realty-Growth.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/CTO-Realty-Growth.jpg?resize=1024,768 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/CTO-Realty-Growth.jpg?resize=1536,1152 1536w\" sizes=\"auto, (max-width: 1561px) 100vw, 1561px\" \/><\/a><figcaption class=\"wp-element-caption\">CTO Realty Growth\u2019s retail portfolio encompasses 5.2 million square feet. <em>Image courtesy of CTO Realty Growth<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>CTO Realty Growth has purchased Ashley Park, a 559,000-square-foot retail center in Newnan, Ga., for $79.8 million. The previous owner was Apollo Global Management, which had bought it for $89.8 million in 2015, according to CommercialEdge information.<\/p>\n\n\n\n<p>CTO acquired Ashley Park below replacement costs, President &amp; CEO John Albright said in prepared remarks. Having below-market rents, the asset provides an opportunity for strategic lease-up, he added.<\/p>\n\n\n\n<p>Ashley Park occupies 60 acres at 354 Newnan Crossing Bypass, near the intersection of Interstate 85 and Georgia State Route 34, about 38 miles southwest of downtown Atlanta. The shopping center receives roughly 6 million visits per year.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/what-defines-the-best-cre-investments-today\/\">What Defines the Best CRE Investments Today?<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Dick\u2019s Sporting Goods, Best Buy, Barnes &amp; Noble, Regal and Dillard\u2019s anchor the property, which was 93 percent leased at the time of sale. Dick\u2019s Sporting Goods is also CTO\u2019s fifth-largest tenant. <\/p>\n\n\n\n<p>Greater Atlanta\u2019s retail vacancy rate stood at 3.7 percent in December, 50 basis points below the five-year average, according to a report by Colliers. A shortage of supply\u2014only 544,000 square feet of product were underway in December\u2014and several <a href=\"https:\/\/www.commercialsearch.com\/news\/behind-retailers-store-shuttering-strategy\/\">retail chain closures<\/a> contributed to the tight index.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-cto-s-growing-retail-footprint\">CTO&#8217;s growing retail footprint<\/h2>\n\n\n\n<p>With this purchase, CTO&#8217;s portfolio reached 5.2 million square feet, marking a 12 percent growth. Last year, the company expanded its footprint by 1.3 million square feet across six retail properties and one vacant parcel.<\/p>\n\n\n\n<p>The most important deal closed in August, when the firm <a href=\"https:\/\/www.commercialsearch.com\/news\/cto-realty-pays-138m-for-open-air-shopping-centers\/\">purchased three open-air shopping centers<\/a> totaling roughly 1.2 million square feet for $137.5 million. The properties are in Charlotte, N.C., Tampa, Fla., and Orlando, Fla.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This acquisition brings the firm\u2019s national portfolio to more than 5 million square feet.<\/p>\n","protected":false},"author":3471,"featured_media":1004749406,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,21783,21742,21749,32781],"tags":[34301,51752],"class_list":["post-1004749405","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-atlanta","category-investment","category-latest","category-retail","category-southeast","tag-apollo-global-management","tag-cto-realty-growth"],"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>CTO Realty Grows Atlanta Footprint With $80M Buy - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"CTO Realty Growth bought Ashley Park, a retail center in Newnan, Ga., near Atlanta, from Apollo Global Management.\" \/>\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\/cto-realty-grows-atlanta-footprint-with-80m-buy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CTO Realty Grows Atlanta Footprint With $80M Buy\" \/>\n<meta property=\"og:description\" content=\"CTO Realty Growth bought Ashley Park, a retail center in Newnan, Ga., near Atlanta, from Apollo Global Management.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/cto-realty-grows-atlanta-footprint-with-80m-buy\/\" \/>\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=\"2025-03-04T12:02:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-03-04T15:55:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/CTO-Realty-Growth.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1561\" \/>\n\t<meta property=\"og:image:height\" content=\"1171\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Claudiu Tiganescu\" \/>\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\/cto-realty-grows-atlanta-footprint-with-80m-buy\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/cto-realty-grows-atlanta-footprint-with-80m-buy\/\",\"name\":\"CTO Realty Grows Atlanta Footprint With $80M Buy - 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