Two Publix-Anchored Atlanta-Area Retail Centers for Sale

Tuesday, May 14, 2019

Holliday Fenoglio Fowler, L.P. (HFF), on behalf of the owner, is offering qualified investors the opportunity to acquire two retail centers in suburban Atlanta anchored by Publix, the Southeast's most sought-after grocery anchor. Publix at Acworth and the Centre at Panola are in two Atlanta communities, Acworth and Lithonia, and are 98% and 100% leased, respectively, to an internet-proof tenancy. Both centers have limited grocery competition as the only neighborhood centers with a primary grocer in the three-mile trade area. The retail centers for sale are being offered individually or as a portfolio.

Publix is one of the highest-volume supermarket chains in the country with over 190,000 employees and revenues exceeding $36 billion in 2018. Both centers house high-performing Publix locations that operate at a healthy occupancy cost and have been at their respective properties for approximately two decades. Publix at Acworth completed a multi-million-dollar renovation in 2015 with more upgrades scheduled for 2020, and Centre at Panola recently spent more than $1 million renovating the interior of the store.

The 69,628-square-foot Publix at Acworth comprises one multi-tenant building leased to Publix, CVS, La Bamba, Eatalia Café & Gelato, Cricket Wireless, Bamboo Gardens, Coast Dental Services, Supercuts, Beauty Hills Beauty Supply, Hot Nails, Dominos and WellStar Health System. The center was completed in 1996 and renovated in 2015.

Publix at Acworth Investment Highlights

  • Synergistic and Internet-Proof Merchandising Mix:  Publix at Acworth incorporates all the elements of modern retailing concepts. Its sophisticated mix attracts shoppers from the surrounding neighborhoods and creates a "sense of place," which is critical in today's retail environment and cannot be replicated by the internet. Average tenure exceeds 19.5 years, with every tenant that reports sales reporting positive sales trends. National and regional tenants comprise 84% of the tenant line up.
  • Dominant Property Fundamentals:  Publix at Acworth is at 3507 Baker Rd NW on the “going-home” side of the road, and multiple ingress/egress points provide a permanent location advantage. The center is adjacent to Interstate 75, the most traveled Interstate system in Georgia, providing super-regional access, and the surrounding three-mile area consists of 65,000 people with an average household income of nearly $90,000, providing the property with a steady and affluent customer base
  • Thriving Submarket in the Atlanta MSA:   Kennesaw State University, one of the largest universities in the country with more than 35,000 students and $1.5 billion in economic impact, is less than five miles from the retail property for sale.  Additionally, Lake Allatoona, which welcomes more than 6.1 million visitors annually, is less than three miles from Publix at Acworth. The property’s proximity to Interstate 75 exposes it to approximately 274,000 vehicles per day. 

Centre at Panola is a 73,075-square-foot retail center that was completed in 2001 and renovated in 2017. It boasts multiple access points on the “going-home” side of the road, which provides easy access and steady customer flow. The retail center is home to JJ’s One-Hour Cleaners, First Class Barber Shop, Marco’s Pizza, Nail Angel, Cricket Wireless, Ameribistro, New Smiles of Lithonia, New China and Supreme Fish Delight, among others.

Centre at Panola Investment Highlights

  • Diversified and Internet-Proof Tenancy:  Like Publix at Acworth, Centre at Panola integrates modern retailing concepts in its tenancy by creating the critical “sense of place.” The center’s tenant mix includes 71% grocery/necessity tenants, 12% healthcare/medical, 10% service-oriented and 7% restaurants.
  • Dominant Property Fundamentals:  Situated at 3007 Panola Road, Centre at Panola is proximate to Downtown Atlanta, Midtown and Buckhead, which provides convenient access to the largest employment hubs in Atlanta. This delivers access to a steady population base of commuters who live in the surrounding area. Centre at Panola benefits from a dense population of more than 76,000 people in the surrounding three-mile radius of the property and more than 175,000 people in the surrounding five-mile radius
  • Atlanta MSA Submarket:  Centre at Panola is located adjacent to Interstate 20 and is visible to more than 144,000 daily travelers, providing super-regional access. Atlanta Hartsfield-Jackson is only a 15-minute drive from the property and is the busiest airport in the world with more than 107 million annual passengers and 63,000 employees.

For more information on these commercial properties for sale or other available retail properties in the southeast, please contact Jim Hamilton in HFF’s Atlanta office. Click here for our real estate investment sales search page.

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