Grocery-anchored retail center in Atlanta metro trades hands
JLL Capital Markets facilitated the sale of Presidential Commons, a 264K SF grocery-anchored retail center in Snellville, GA
ATLANTA, Oct. 8, 2024 – JLL Capital Markets announced today the sale of Presidential Commons, a 264,271-square-foot grocery-anchored retail center in Snellville, Georgia.
JLL represented the seller, SITE Centers, in the sale to Sterling Organization.
Located at 1630-1708 Scenic Hwy N, Presidential Commons is strategically positioned approximately 30 miles northeast of downtown Atlanta in Snellville’s retail corridor. The 89% leased center features a national tenant lineup with a weighted average tenure in excess of 16 years, and a value-add component, with approximately 30,000 square feet available for lease up. Notable anchors include Kroger, Burlington, Ulta Beauty, Petco, Five Below and Aaron’s, along with a Home Depot shadow anchor.
The JLL Investment Sales and Advisory team was led by Senior Managing Director Jim Hamilton, Managing Director Brad Buchanan, Vice President Andrew Michols and Analyst Anton Serafini.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 110,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About SITE Centers Corp.
SITE Centers is an owner and manager of open-air shopping centers located in suburban, high household income communities. The Company is a self-administered and self-managed REIT operating as a fully integrated real estate company and is publicly traded on the New York Stock Exchange under the ticker symbol SITC.
About Sterling Organization
Sterling Organization is a vertically integrated private equity real estate investment firm whose national platform is focused on investing in retail real estate assets. Sterling Organization, and its affiliates, own and manage 75 properties across the U.S. with more than 13 million square feet of primarily retail real estate across the U.S. worth over $2 billion in value. The company is headquartered in Palm Beach, Florida, with additional offices strategically located throughout the U.S. For more information, please visit sterlingorganization.com.