In a challenging market, grocery-anchored retail centers offer a high level of stability. ShopCore Properties recently sold the 100,000-square-foot Marketplace at Buckhead Center to Sterling Organization. This shopping center, located just inside the Brookhaven boundary and formerly known as Cherokee Plaza, boasts an impressive tenant lineup including Kroger (82,000 square feet), Salon Lofts and Jersey Mike’s Subs.
Sterling acquired this property through its $267 million equity fund. According to Atlanta Business Chronicle’s report on the transaction, grocery-anchored shopping centers are considered resilient investments in markets with affluent demographics due to their ability to attract daily foot traffic from shoppers. The average household income within a three-mile radius is $175,000.
The sale of this Brookhaven retail center for $38.5 million highlights the attractiveness of well-positioned grocery-anchored properties in today’s competitive market.
