ATLANTA (September 3, 2014) – The SRS Southeast Investment Sales team has brokered the sale of an 89,880-square-foot neighborhood shopping center in Carrollton, Ga. The property is located at 525 Bankhead Highway; which is situated along U.S. Highway 166 just west of the intersection of Northside Drive and Bankhead Highway. The property, which is anchored by Ollie’s Bargain Outlet, Badcock’s Home Furniture, Hibbett Sports and Family Dollar, was sold for $3.9 million.
“Tower Plaza is another prime example of a transaction in which the investor has expanded their acquisition parameters and found a buying niche which enables them to put their money to work, especially as we near the 4th quarter,” stated Pierce Mayson, vice president in the SRS Atlanta office and part of the Investment Sales team. “This is the second asset that we have sold to RCG Ventures in the Carrollton market in four months, and both transactions have enabled them to successfully deploy capital into what they do best.”
Kyle Stonis, senior vice president, and Pierce Mayson, vice president, in the SRS Atlanta office represented the seller, Phillips Edison and Company, in the transaction. Scott Tarbet, with RCG Ventures, represented the buyer.
About SRS Real Estate Partners
SRS Real Estate Partners is the largest real estate company in North America exclusively dedicated to retail services. Headquartered in Dallas with more than 20 offices worldwide, SRS’ strong reach and international presence provide the company with unparalleled knowledge both globally and domestically. As a result, clients of SRS have a competitive edge through a full range of offerings including brokerage services, corporate services, development services, investment services and management services. Since its inception in 1986, SRS has built a strong foundation in the retail real estate world and grown into one of the industry’s most influential and respected leaders. Our success is measured in the achievement of our clients’ objectives, satisfaction and trust. For more information, please visit www.srsre.com.
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