Multi-anchored shopping center sells for $63.5M in Atlanta MSA
JLL Capital Markets facilitates the sale of Cobb Place shopping center in Kennesaw, Georgia
ATLANTA, Dec. 23, 2024 – JLL Capital Markets announced today that it has arranged the $63.5 million sale of Cobb Place, a 335,190-square-foot shopping center in Kennesaw, Georgia.
JLL represented the seller, Wicker Park Capital Management. The buyer was Shaked Acquisitions.
Cobb Place, located at 840 Ernest W. Barrett Pkwy. along I-75, is positioned in one of Georgia's most heavily traveled corridors and ranks as the state's second most visited retail node. The property is surrounded by robust multi-family development and affluent demographics. The center benefits from its immediate proximity to Kennesaw State University which is home to more than 43,000 students, Cobb County International Airport and Dobbins Air Force Base, among other prominent demand drivers.
Home to North Georgia's most visited furniture shopping destination, Cobb Place boasts a durable tenancy with an average tenure of more than 17 years. Its diverse and high-performing tenant mix positions Cobb Place as a super-regional shopping destination anchored by the following tenants: Ashley HomeStore, American Signature Furniture, DSW, World Market, Hobby Town, Bassett Furniture, Natuzzi and BrandsMart.
JLL Capital Market’s Investment and Sales Advisory team representing the seller was led by Senior Managing Director Jim Hamilton, Managing Director Brad Buchanan, Director Andrew Kahn 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 111,000 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 Wicker Park Capital Management
Wicker Park Capital Management, LLC (WPCM) is a privately-held real estate investment firm specializing in multi-family, retail and mixed-use properties across the Southern United States. Based in Savannah with additional offices in Birmingham and Atlanta, WPCM leverages its extensive knowledge and investment experience in primary and secondary markets throughout the region. The firm's strategic focus and regional expertise position it to identify and capitalize on valuable real estate opportunities in its target markets.
About Shaked Acquisitions
Shaked Acquisitions is a privately-held real estate firm specializing in commercial retail properties across the Southeastern United States, based in Aventura, Florida. The firm is led by its principal, Sagi Shaked. The firm utilizes its extensive knowledge and investment experience to identify valuable real estate opportunities throughout its target markets. Focusing on finding stable retail assets with continued rent growth opportunities within the existing rent roll.