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.
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.
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.