The client owned 14 grocery-anchored assets across the Southeast with a total GLA of 603,14s square feet. They not only required the buyout of the entire portfolio, but also the acquisition of the development company itself.
With our abundant buyer pool for grocery-anchored retail and close investor relationships, we were able to select the perfect buyer for this unique opportunity based on their ability to execute on not only the real estate, which is a great fit for their portfolio, but also the nuances involved with the buyout of the development company.
- Predominantly the market-leading grocery-anchored centers in each
- respective market
- Grocers averaging sales of more than $300/SF
- Aggregate anchor lease term of roughly 7 years remaining
- Assets located in small markets throughout eastern South Carolina and southeast Georgia
- Unique transaction required the acquisition/buyout of not only the real estate but the development company itself
- Five of fourteen centers anchored by Piggly Wiggly with franchisee credit