ATLANTA (May 11, 2021)– SRS’ Investment Properties Group brokered the sale of Cherokee Commons Shopping Center, a Kroger-anchored community center located in Acworth, Ga., which is within the Atlanta MSA. The center is positioned at 6199 Alabama Road, at the signalized intersection of Highway 92 and Robin Road, with 41,600 vehicles per day. Cherokee Commons is situated on 11.54 acres of land and consists of 103,719 square feet. Built in 1986, the center is currently 91% occupied. The tenant roster includes national retailers Kroger, Pet Supplies Plus, and Cosmo Prof. The seller, Collett Capital, sold the property on April 28, 2021 for $11.35 million to Bandera Ventures.
“We were excited for both parties, to get this off-market opportunity to the finish line, “said Kyle Stonis, managing principal of SRS’ Investment Properties Group. “The demand for grocery-anchored product in the Southeast continues to be extremely strong and this was a great fit for the buyer.”
Kyle Stonis, managing principal, and Pierce Mayson, managing principal, of the Investment Properties Group in the SRS Atlanta office, represented the seller in the transaction. The buyer was self-represented in the transaction.
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 25 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 and investment 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 srsre.com.